The Russian Direct Investment Fund (RDIF), the sovereign wealth fund of the Russian Federation, and the leading Italian state highway management company ANAS have agreed to jointly implement a concession agreement to build and operate the fourth section of the Moscow Central Ring Road.
A corresponding decision is based on the previous agreement signed by RDIF and ANAS on the sidelines of the meeting of Russian President Vladimir Putin and Italian Prime Minister Giuseppe Conte in October, 2018. The construction works under the concession agreement are already under way.
“We are glad that ANAS will keep on contributing its advanced expertise in road development and management to Russia’s most significant transport infrastructure projects. As Russia’s sovereign wealth fund RDIF intends to further invest in infrastructure development in Russia attracting leading international strategic investors to the sector,” Kirill Dmitriev, CEO of the RDIF said.
The fourth and final section of the Central Ring Road is 96.5 km long. Under the terms of the concession agreement, the cost of construction is RUR 85.4 bln ($1.3 bln), of which the concessionaire will provide RUR 49.7 bln ($748 mio) and private investors will provide RUR 35.7 bln ($540 mio).
“We are proud to seize an opportunity to implement the construction of the fourth section of the Moscow Central Ring Road which is definitely a project of major significance in Russia. We are completing the assessments now and will be ready to finalize the transaction soon. Russia is one of our main growth markets and we are happy with the results already achieved here thanks to our strong local partner RDIF,” Edoardo Eminyan, CFO of Anas said.