PM: Govt approves 4.5 tln rbl 5-year infrastructure program

MOSCOW, Apr 18 (PRIME) – The Russian government has approved a 4.5 trillion ruble 5-year program to ramp up improvement of its highway, public utility, and social infrastructure, Prime Minister Mikhail Mishustin said on Tuesday during a government meeting.

“We are to discuss the problems of development of the transport, public utility, and social infrastructure. We have approved a 5-year program for construction of these facilities with spending of budget money i to ensure full-scale and long-term planning. The amount of facilities included exceeds 6,500 worth over 4.5 trillion rubles,” he said.

“We have to ensure fast improvement of the highway network with the focus on the main highways that would connect the territories of our expansive country.”

The government will allocate around 140 billion rubles of treasury loans with maturity of up to 15 years to the regions for upgrades of highways, and will provide 50 billion rubles more to upgrade public transport, Mishustin said.

He also said that the country’s construction industry is developing in spite of the Western sanctions. The industry raised the scope of work by almost 15% over the past three years hitting a record launch of residential housing in 2022 and improving housing conditions of over 3.5 million families, he said.

(81.6279 rubles – U.S. $1)

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