OREANDA-NEWS. April 24, 2009. SOGAZ Insurance Group has signed a contract of insurance against construction and installation risks of CJSC Pacific Bridge Construction Company (CJSC TMK) at the construction of a bridge crossing over the Zolotoy Rog bay in Vladivostok, reported the press-centre of SOGAZ.

Pursuant to the contract, SOGAZ will insure construction and installation work and civil liability of CJSC TMK for the entire period of construction and warranty service of the project. The total insured amount under the concluded contract exceeds 18 billion rubles.

The bridge is being constructed as part of the Federal Target Investment Plan (FTIP) concerning preparation to APEC Summit to be held in Vladivostok in 2012. The most important stage of the plan is the development of the regional road infrastructure: the bridge crossing over Zolotoy Rog will be located on the highway connecting federal motor road М-60 “Ussury” Khabarovsk-Vladivostok with the Russky Island.

The bridge over Zolotoy Rog, which is planned to be completed in 2011, is a unique project: the length of the bridge span will be 737 meters, the length of the whole structure will be about 2,000 meters, while the height of bridge pylons – about 220 meters. The bridge will be constructed by Russian and foreign builders.

“SOGAZ is one of the most active participants of the federal and regional investment project insurance market,” – says Chairman of the Board of SOGAZ Insurance Group Vadim Yanov. – “We are satisfied that the SOGAZ experience in insurance of FTIP and complex engineering risks is in demand, when working at such a large-scale project as the construction of a bridge over Zolotoy Rog.”