VTB signed a memorandum of cooperation with St. Petersburg administration and, according to the document the value of the investment is USD 20 billion. The agreement was signed at the St Petersburg International Economic Forum,
The parties plan to develop the city’s transport infrastructure and overground public transport, as well as attract additional domestic and foreign investment into the economies of St Petersburg and Russia’s North-Western Region. The priority for both parties is building two light rail lines. One will link Kirovsky Plant with Peterhof and the other will link the Pulkovo Airport and the Kupchino Metro Station.
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