Today, an agreement was signed between the Swedish International Development Agency (SIDA), the Finnish Ministry of Environment, the Administration of St. Petersburg, and the city's Vodocanal water company for the support and financing of the ongoing construction of the South-Western Water Treatment Plant. According to the press service of St. Petersburg's Mayor, Vladimir Yakovlev, investors' share of the total cost of this project comes to EUR 170 million. The financing will be done in the form of grants issued by the government of Sweden via SIDA, the Ministry of Environment of Finland and the European Commission's TACIS, and in the form of loans issued by the European Bank for Reconstruction and Development and the Northern Investment Bank.
The work will be contracted by Nordvod, Vodokanal's special-purpose subsidiary founded with the participation of the Northern Ecological Financial Corporation and a consortium of Swedish and Finnish companies. Once completed, the plant's daily water processing capacity will reach 330,000 cubic metres.