RDIF and MAKYOL create a partnership to implement infrastructure projects

Press release, 03.04.2018

Ankara, 03 April 2018 - The Russian Direct Investment Fund (RDIF, the sovereign wealth fund of the Russian Federation) and MAKYOL, the leading Turkish construction company, have agreed to form a partnership to jointly implement infrastructure projects. The signing of the partnership agreement was announced today on the sidelines of the visit by Russian President Vladimir Putin to Turkey.

The agreement foresees the joint implementation of investment projects in the infrastructure sector, including road construction.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:

"The agreement with MAKYOL will attract another significant partner in existing and new infrastructure projects. As part of the partnership, we have an excellent opportunity to bring industry expertise in the construction of regional highways. This will additionally speed up the pace of the revitalization of Russia’s infrastructure and create new world-class facilities."

Adnan Çebi, CEO and the president of MAKYOL, said:

"It is an honour for our company to enter into the partnership by signing this agreement. We believe our experience of 53 years in construction of roads, highways, tunnels and infrastructure transportation, as well as our know-how on the implementation of concession contracts, will be a highly valuable contribution to our cooperation. It will be a great opportunity for us to bring our knowledge to Russia particularly where it concerns concession projects. We have gained a great deal of expertise from working large-scale projects in Turkey and Kazakhstan. We also hope that this partnership will stand as a good example for future collaborations in the infrastructure sector in Russia."

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Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru

MAKYOL is Turkey's leading contractor for the construction of highways, metros and tunnels. As of 2018, the total volume of contracts in MAKYOL project portfolio is more than USD 5.3 billion. At the end of 2016, consolidated total revenue of MAKYOL amounted to USD 1.1 billion including income from the objects of concessions. The revenue for 2017 is expected to be USD 1.2 billion. MAKYOL is the main shareholder of the largest concession project in the history of Turkey’s transport sector. The 423-kilometer Gebze-Izmir highway which includes the construction of the world's fourth largest suspension bridge, has a total investment of USD 7.3 billion. The completed sections of the road is in operation. The company is a shareholder of BAKAD (Great Almaty Ring Road), the first concession project in Kazakhstan, with a total investment of approximately USD 800 million. The concession agreement was signed on February 7, 2018. BAKAD is the first project in Kazakhstan to build a highway, using public-private partnership (PPP) mechanisms. MAKYOL has experience working in Morocco, Algeria, Iraq, Oman, Kuwait, Albania, Azerbaijan and Kazakhstan and has continuously been ranked within the Engineering News Record (ENR) for the «List of the Top International 250 Contractors of the world» for the last ten years. http://www.makyol.com.tr/en

 

For additional information contact:

Arseniy Palagin                                              Andrew Hayes / Elena Garside
Russian Direct Investment Fund                       Hudson Sandler
Press Secretary                                              Tel: +44 (0) 20 7796 4133
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
E-mail: arseniy.palagin@rdif.ru