Russian Direct Investment Fund, Russian Highways to launch JV

Prime News, 04.12.2014

MOSCOW, Dec 5 (PRIME) -- The Russian Direct Investment Fund , a subsidiary of state-run VEB Bank, and the State Company Russian Highways will establish a joint venture (JV) to provide pre-project services for construction and infrastructure projects, fund’s Director Kirill Dmitriev told reporters on Friday.

“This means that our foreign partners and we will understand more information at an initial stage of a project. Respectively, our investors may participate in it, and we will even cover initial costs for pre-project preparation. One of the first roads that can be built is a highway M-4, the Don,” where we are ready to finance 25% of pre-project costs together with co-investors, he said.

Russian Highways will hold 75% in the joint venture and has a right to sell its stake to other investors, while the fund will own a 25% stake.