VTB Capital will take a majority stake in the Levashovo waste treatment plant PPP project in Saint Petersburg, Russia.

Aktor and Helector were selected as the preferred bidder for the project in January, 2011. The team concluded the 30-year concession in May 2011.

The project should have been operational this year but the teams had not enough forces to carry out the financial obligations alone, therefore at the present stage VTB Capital has been involved as the stabilizing financial partner.

VTB Capital and the two Greek companies, Aktor and Helector, signed on 24 April 2014 a Memorandum of Understanding (MoU) to invest together in the waste PPP project.

The total project investment is estimated at RUB9 million (US$240.5 million).

The new facilities will have a total capacity of 350 thousand tons a year. The project is expected to be operational in 36 months after the signing of the MoU.

This is the first PPP waste project in the Northwest federal district. Vice-governor Vladimir Lavlentsev stated:

This is a pilot project and we hope it becomes a successful example of constructive cooperation.

Levashovo is a municipal settlement under the administrative jurisdiction of Vyborgsky District of the federal city of St. Petersburg, Russia. It has a total population of about 4000 inhabitants.