Moscow, September 3, 2013 – A consortium of private investors comprising the Russian Direct Investment Fund (RDIF), Macquarie Russia & CIS Infrastructure Fund (MRIF), Lider CJSC and Gazprombank OJSC, has submitted an application to Avtodor SC to take part in the tender for the construction of a section of the M11 toll road, which will run between Moscow and St. Petersburg. Members of the consortium have high profile expertise in execution of infrastructure projects including the construction of roads in Russia.
The M11 highway will run parallel to the existing M10 road and will significantly increase the speed of road traffic between Russia’s major cities.
The consortium will be responsible for financing, building and operating the M11 section from 543km to 684km which is next to the ring road around St-Petersburg. The section will consist of 4 to 6 lanes with the traffic capacity of more than 20 thousand vehicles per day. The initial cost of the project amounts to 83.1 billion rubles, 25% of which will be financed by private investors.
Avtodor SC will consider applications until mid-October 2013, before inviting final bids. The tender winner will be announced in April 2014 and construction completed in 2017.
Russian Direct Investment Fund (RDIF)
was established in June 2011 to make equity investments primarily in the Russian Federation. In each investment it makes, RDIF is mandated to secure co-investment that as a minimum matches its commitment, thus acting as a catalyst for direct investment into the Russian economy. Further information at www.rdif.ru
Macquarie Russia & CIS Infrastructure Fund (MRIF)
is the leading private infrastructure investment fund in Russia/CIS with US$630 million of commitments. MRIF is managed by Macquarie Infrastructure and Real Assets, the world’s largest manager of infrastructure. Macquarie pioneered infrastructure as an asset class almost 20 years ago, and has a strong track record in the development and management of toll roads since 1996. Macquarie currently has a portfolio of 26 toll roads, tunnels and bridges across four continents used by 1.2 million vehicles a day. www.macquarie.com
- as of June 30, 2013, in the management of Lider CJSC are the assets the cost of which amounts to more than 420 billion rubles. These assets ensure the company’s first position in the ranking of management companies in terms of asset management held by the rating agency Expert RA. The basic directions of activities of Lider CJSC are trust management of pension funds of NSPF, funds of insurance companies and pension savings of citizens, public and private asset management for investment funds, as well as public-private partnerships. Shareholders of Lider CJSC are the leading companies in their respective industries: Insurance Company of the Gas Industry (SOGAZ) OJSC; State Corporation - Bank of Development and Foreign Economic Affairs (Vnesheconombank); Gazprom OJSC; Non-State Pension Fund - Gazprombank (OJSC). http://www.leader-invest.ru/
For more information please contact:
RDIF Press Secretary
Mobile phone: +7964726 1773
Andrew Hayes / Maria Ignatova / Elena Kuza / Charlie Barker
Tel +44 (0) 20 7796 4133
Mobile phone: +7 919 102 9064