VEB allocates first tranche of 211 mln rubles for cable car project between Russia, China

BLAGOVESHCHENSK. Dec 25 (Interfax) - VEB.RF has provided the first funds for constructing a cable car between Blagoveshchensk in the Amur region and Heihe in China under a 4 billion ruble loan agreement, the state corporation's press service said.

"The first funds of 211 million rubles have been allocated for the construction of a passenger terminal. The corresponding loan agreement was signed at the end of November this year," it said.

In total, 17 billion rubles will be provided for construction, of which 4 billion rubles is concessional financing from VEB.RF through the Far East and Arctic Development Ministry.

The project is being implemented by the Agency for Development of Project Initiatives (ADPI, part of Region Group). At this stage, work on the monolithic frame of the station has been completed; interior finishing work, installation of utility networks, as well as facade systems and curtain walls are underway, and installation of the cable car equipment is being carried out.

The world's first cross-border cable car is being built under an intergovernmental agreement between Russia and China, signed in September 2015. The symbolic start of the project was given in July 2019. It is included in the comprehensive socio-economic development plan for Blagoveshchensk.

Previously, the project budget was estimated at 13.2 billion rubles. The cable car's capacity is 6,800 people per day in each direction or 2.5 million people per year in both directions.

The contractor plans to complete the work in Q3 2026. It is expected that by 2030, the flow of foreign tourists to Blagoveshchensk will triple to 918,000 people per year.