OREANDA-NEWS. The German construction company Hochtief AG and Dutch construction company Royal Boskalis Westminster NV signed an agreement on the building of a dam in Saint-Petersburg with the Russian Federal of building and housing and communal services (Rosstroy).

The cost of the project is. The share of Hochtief will total 40%, a 60% of the shares will be owned by Royal Boskalis.
 
It expected to have built the dam by the year of 2012. The total length of the dam will be 365 m, it will protect the shipping channel in Saint-Petersburg from flood during heavy gale. The named companies will also build an underground tunnel (360 m long) to provide traffic.