Construction costs for Lakhta Center in St Petersburg reached $1,6 bln

Construction costs for Lakhta Center in St Petersburg reached $1,6 bln
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By late 2017, financing of Lakhta Center in the Russian city of St. Petersburg has reached almost 100 billion rubles ($1,6 billion), Interfax reports on Friday.

The source of financing are loans to the operator of the Lakhta Center project. Officially, the costs for Lakhta Center construction have never been revealed by Gazprom. However, ten years ago, Gazprom said that the Okhta — a previous version of the project — would cost 60 billion rubles. Initially, the skyscraper construction was planned to be funded both by the gas holding and the city, but now it is Gazprom that incurs the whole amount of the expenditure.  

As a reference, Lakhta Center is a multifunctional public and business complex with an area of more than 13 hectares, the core of which will be the headquarters of the companies Gazprom Group and Gazprom Neft. The skyscraper construction has been carried out since October 2012. The full scope of the work is scheduled for completion before the end of this year.

As the Lakhta Center website informs, as of August 2018, the main construction and installation activities have been completed at the site. At present, the preparation for the facility’s commissioning is underway.