MOSCOW, Aug 9 (PRIME) — Investments in the development of housing and public utilities in Moscow are expected to amount to over 700 billion rubles by 2016, Moscow Mayor Sergei Sobyanin said Tuesday at a meeting of the citys government, RIA Novosti reported.
Of the total funds, over 200 billion rubles is to be provided from the budget, while around 500 billion rubles is to be provided from non-budget sources, Sobyanin said.
The depreciation of utilities networks currently exceeds 40%, Sobyanin said, adding that in a number of cases the depreciation amounts to 50%60%.
The city government also expects investments in targeted construction projects in the city to amount to 420 billion rubles in 2012 and 475 billion rubles in 2014, he said, adding that the projects included the construction of health, education, and preschool facilities.
Annual investments in the construction of metro, public transport, and road facilities are planned to amount to 300 billion rubles, he said.
Separately, Sobyanin said the government was developing a 17 billion ruble lighting program for the city. The mayor also ordered the installation of lighting in 3,500 of the citys yards as a matter of urgency.
(28.5210 rubles U.S. $1)