Russia cuts spending on new roads by one third in 2016

Source: Interfax

Russia’s state Road Transport Agency (Rosavtodor) has announced that it is cutting investments in new road construction by one third, from 140 billion to 97 billion rubles ($1.7 billion to $1.2 billion).

According to Roman Starovoit, the agency’s head, “no projects now underway will be affected by this decision.”

The cutbacks, Starovoit explained, only apply to certain future projects “that are not expected to launch in 2016, because of the financial risks.”

Before the end of 2016, Rosavtodor planned to build and reconstruct roughly 280 kilometers (about 175 miles) of federal highway. Rosavtodor stresses that the cutbacks will not impede construction of a bridge to Crimea across the Kerch Strait.

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Russia cuts spending on new roads by one third in 2016

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