OREANDA-NEWS. On 07 June 2008 was announced, that the project work on the construction of the central ring road [TsKAD] around Moscow set to make the MKAD less busy is to be completed in 2009 and roughly \\\\$375 million has been allocated for this purpose. The road is to be built by 2012.

“The essential project work is to be completed in 2009 and almost \\\\$375 million has been allocated for this purpose, the finishing date of the construction is 2012,” Vladimir Putin, Prime Minister of the Russian Federation, said at a session of the government on June 5.

Mr Putin reminded that the construction of the TsKAD in the Moscow region was one of the key elements of the federal target program Development of Transport System in Russia that had been approved before. The stretch of the road will be 522 km and will contain 31 interchanges.

According to the PM, the private investors will be involved in the construction of the TsKAD and the mechanisms of concession will work in practice.

The total cost of the project will be equal to \\\\$21.7 billion, 65 per cent will be allocated from the investment fund of the Russian Federation, 10 per cent – from the budget of the Moscow region and 25 per cent – from private investors.

“The road will enable to make the MKAD and the exit roads from Moscow less busy,” Mr Putin emphasized.

The official added that the project would also improve the ecological situation in the region, increase the transport potential and offer an additional potential for development of the adjacent areas, rise in housing construction, creation of up-to-date logistics centres and new manufactures.

“It is supposed that about 200,000 jobs will be created in the area,” Mr Putin noted.