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Turkish Holding to invest to environmentally friendly waste disposal project

The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, announces that it has attracted an investment by Renaissance Construction (part of the Turkish Rönesans Holding) in the “Waste to energy” project operated by RT-Invest (part of Rostec State Corporation). The agreement was announced on the sidelines of the Russian Investment Forum in Sochi, official web page reported.

The “Waste to energy” project involves the construction of four plants for the environmentally friendly thermal processing of waste into electricity in the Moscow region. The total processing capacity of the plants in the Moscow Region will amount to 2.8 million tonnes of municipal solid waste (MSW) per year, which will generate about 280 MW of electricity annually. The commissioning of the plants is planned for 2021-2022. Implementation of the project will reduce the share of MSW disposed through landfill in the Moscow region by 30%.

The finalization of the structure for the company’s share capital in the near future, taking into account the funds from RDIF and its co-investors, will allow the project to begin attracting loan financing and start its implementation.

 

“The need to solve environmental problems has driven international business interest in innovative environmental projects and contributed to the growth of Russia’s waste management industry. Thanks to our partner, RDIF, Renaissance Holdings, which has extensive experience in the construction industry, is now one of the project’s investors. We appreciate the confidence of the international business community in our company and are confident that this will allow us to fully implement the “Energy from Waste” project in accordance with the highest international standards and achieve our main goal—zero waste to landfill in Russia,” Andrey Shipelov, CEO of RT-Invest, said.

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