The project can cost almost $2 billion
China Railway Construction Corporation has contacted the St. Petersburg Administration offering to build a new metro line from the Prospect Veteranov metro station to the campus of the ITMO University in the satellite town of Yuzhny.
Investment into the project can amount to 130 billion rubles (almost $2 billion) making it the largest investment project realized in St. Petersburg in 15 years.
The project scheme suggests that the city government will provide a capital grant equivalent to 20-30% of the project cost.
The new metro line will consist of several new stations, namely Ulyianka, Pulkovo, Expoforum and Alexandrovskaya.
China Railway Construction Corporation has been involved in metro construction in Moscow since 2017
In St. Petersburg, the company intends to build apartment blocks and is also interested in a contract to participate in the Western High-Speed Diameter project.