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The federal financing for the Asian-Pacific Economic Summit to be held in Vladivostok in 2012 is delayed which may result in failing to meet the deadlines for construction of the key structures, Kamil Iskhakov, deputy head of the Ministry for Regional Development told reporters on Thursday in Moscow.

Iskhakov sounded dissatisfied with the preparation for the APEC-2012 in Vladivostok. “Federal financing should have started Jan. 1, 2008 and 35 billion rubles ($1.5 billion) should have already been invested in the construction of the objects. Instead, the money is stuck somewhere between Finance Ministry and our ministry,” he lamented.

According to Iskhakov, 149 billion rubles ($6.2 billion) is planned to be invested into preparing the infrastructure for the summit in Vladivostok and on Russky Island. 100 billion rubles will be given by the federal budget, another 11 billion rubles by Primorye’s administration and 38 billion rubles are expected to come from private investors.

The financial delays threaten to break deadlines for construction of the key structures among which are the two bridges – one is supposed to link Russky Island with Vladivostok and another will stretch over the Golden Horn Bay in Vladivostok.

“The bridge over the Bosfor Strait to Russky Island will be the first bridge in Russia of such size and complicity,” Iskhakov said according to news reports. He added that it is hardly believable that its construction may be completed by 2012. The feasibility study has been developed and the bidding for construction has not been held, he noted.

Iskhakov mentioned that a Taiwanese company and a Russian company are currently competing for the construction contract with the expenses ranging from 10 billion rubles to 20 billion rubles. In case the bridge is not ready for the summit, the guests will have to be taken to Russky Island by ferry boats.

According to the budget planning, 12 billion rubles ($498 million) is to be invested in expansion of the electricity network, 4 billion rubles will go for an upgrade of the airport, 16 billion rubles will be spent on construction of ten hotels, seven of which are to be five-star hotels.

“The real expenses for construction of all these projects may double in the end,” Iskhakov said. He said his ministry prepares another document for additional funds.

Preparation of Vladivostok for the APEC-2012 is included into the federal program of developing the Russian Far East. According to the program, some 500 billion rubles ($20.7 billion) will be allotted for the development of Russia’s remote territory up to the year 2013.


From www.minregion.ru and Rosbalt news agency