Moscow Central Ring Road section achieves commercial close
This article is part of a daily series of MegaProjects articles. If you want to know more about PPP projects with a considerable size visit our MegaProjects section. You can receive them by email on a daily basis.
DSK Avtoban and the Russian Direct Investment Fund (RDIF) have signed a concession agreement with Avtodor, Russia’s state highways agency, for the financing, construction and operation of section four of Moscow's central ring road (CCR).
As we reported in September 2014, Avtodor launched two tender processes to develop the third and fourth section of Moscow CCR project. Avtodor tendered the third and fourth sections through public-private partnership (PPP) contracts with a total of 51% of the third stage and 45% of the fourth stage being developed through private investment funding.
The fourth project involves the development of the south-east section. The four lanes road will have a total length of 96.6 km. The project will start at the intersection of the CRR with the М-7 Volga road and it will end at the intersection with the M-4 Don highway.
The total investment is estimated at RUB63.6 billion (US$1.7 billion).
The Moscow CCR is divided in five different contracts. DSK Avtoban, with OJSC and Spanish company Sacyr Concession, also signed a concession agreement for the development of the section three. DSK Avtoban reached financial close on the project last March. Gazprombank (GPB), the third largest bank in the country, has signed a RUB35.6 billion (US$600 million) loan to finance to project.
RDIF is a Sovereign Fund of the Russian Federation established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. Recently, RDIF and GAZFOND, Russia's largest private pension fund, announced the establishment of the United Transport Concession Holding. The partnership will invest in the construction and operation of roads, railways, city transport and PPP projects in the Russian Federation, jointly with leading international funds.
Country news
-
-
April 25, 2017
VTB Capital sells a stake in Pulkovo Airport
VTB Capital has signed an agreement with a consortium comprised of the Russian Direct Investment Fund (RDIF), Mubadala Development Company and other leading Middle Eastern and Asian co-investors alongside Baring Vostok Private Equity Fund V and related funds (Baring Vostok) to sell a 25% equity stake in Thalita Trading Limited. Thalita is the holding company of Northern Capital Gateway Ltd, which operates Pulkovo Airport (LED) in St. Petersburg, Russia.
Read more -
March 03, 2017
Moscow Central Ring Road Stage 3 reaches FC
Russian construction company DSK Avtoban has announced it has reached financial close on stage three of the Moscow Central Ring Road, one of the largest infrastructure projects in Russia.
Read more -
November 29, 2016
RDIF, Changi Airports International and Basic Element consortium acquires Vladivostok International Airport
Acquisition of shares in Vladivostok International Airport in Russia’s Far East from Sheremetyevo International Airport. A consortium comprising the Russian Direct Investment Fund (RDIF), Singapore’s Changi Airports International (CAI) and Russia’s Basic Element, signed the agreement.
Read more -
October 26, 2016
India’s NIIF and Russia’s RDIF to establish $1 billion Russian Indian Investment Fund
The Russian Direct Investment Fund (RDIF) and National Investment and Infrastructure Fund (NIIF), established by the Government of India with the support of RDIF, have agreed to set up a US$1 billion Russia-India Investment Fund. Read more -
October 05, 2016
Russia approves sale of Pulkovo airport to Qatar Investment Authority
Qatar Investment Authority (QIA) has increased its stake in St. Petersburg’s Pulkovo Airport to 25% after a deal including de airport operator Fraport and other companies with shares in the project. Read more
