Region of Chelyabinsk secures additional billion loan for metro construction project
Russian Government Authorizes 15 Billion Ruble Loan for Chelyabinsk Metrotram Line Construction
According to Novy Den news agency, the Russian government has sanctioned a 15 billion ruble loan for the ongoing metrotram project in Chelyabinsk. Ivan Rodionov, the Finance Minister of the Chelyabinsk region, announced the allocation of funds this year.
The allocated sum will be utilized for constructing the "North-South" line and procuring tram cars for this line. The loan is a treasury infrastructure loan, offered under favorable terms.
It is essential to note that infrastructure loans come with a repayment period of up to 15 years and an annual interest rate of 3%. Consequently, the regional budget will need to pay approximately 1 billion rubles annually, with interest totalling an estimated 450 million rubles this year. With a fiscal deficit of 72 billion rubles this year, the regional budget may face additional strain.
In late 2021, the Russian Ministry of Finance revised the rules regarding infrastructure loans. Delayed project implementation could escalate the loan interest rate to 6% per annum. Reportedly, the authorities in Chelyabinsk have already postponed completion dates for the metrotram line project on several occasions.
Alexei Teksler, the governor of Chelyabinsk, unveiled plans for the metrotram project in May 2021. The initial proposal aimed to establish two lines and three routes in Chelyabinsk within the following three years, using an integrated metro network and separate tram tracks. This would encompass building two underground stations that serve as a transfer hub and 7.2 kilometers of tunnels, as well as 3.9 kilometers of surface tracks.
The feasibility of these plans was questioned from the outset. In June 2022, Alexander Lomaikin, First Deputy Minister of Construction of Russia, suggested that the metrotram in Chelyabinsk might not launch until the end of 2025, a year later than initially planned. Lomaikin reported that the main contractor was not secured until August 2022.
As of October 2023, Lomaikin stated that construction of the first line of the Chelyabinsk metro should be completed in 2026.
For the latest updates on the progress and potential delays of the Chelyabinsk metrotram line, one can turn to local government releases or Russian-language news sources.
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The 15 billion ruble loan authorized by the Russian government will be allocated to finance the construction of the "North-South" line for the Chelyabinsk metrotram, as well as the procurement of tram cars. The loan is a treasury infrastructure loan, offering favorable terms for the regional budget.
