RDIF and partners begin the roll-out of the overpass project in the Moscow region
Press release, 10.05.2018
Moscow, 10 May 2018 - The Russian Direct Investment Fund (RDIF, the sovereign fund of the Russian Federation), in partnership with Pizzarotti, the leading Italian construction company, and Leader Management Company, which manages the assets of Russia's largest private pension fund GAZFOND, have signed a concession agreement with the Government of the Moscow region to construct two toll bridges over railway tracks in the Domodedovo and Pushkin districts.
The overpasses will replace existing ground crossings and will significantly ease transport congestion, as well as reduce the level of traffic accidents in the region. The construction of the bridges, which will be carried out without the provision of capital grants, will enhance the investment appeal of infrastructure development in the Moscow region, and increase the volume of private investment in such projects.
Anatoly Braverman, First Deputy CEO of the Russian Direct Investment Fund (RDIF), said:
"It is very important for the development of Russian infrastructure to create conditions for attracting ‘long money’- from pension and sovereign funds that can invest in long-term projects that offer stable profitability.
Through the use of public-private partnership mechanisms and proper structuring, the construction of the overpasses is an attractive project for investors even without public funds.
We consider the co-investment of Russia’s one of the largest asset management companies of private pension funds and the participation of a leading European construction company to be a strong endorsement. Together with our partners, we are considering the possibility of expanding this project not only to other areas of the Moscow region, but also to other regions of the country."
Giorgio Cassina, International Affairs Managing Director of the Impresa Pizzarotti and C. S.p.A., said:
"Pizzarotti is committed to enhancing significantly its presence in Russia through the implementation of a long-term investment strategy in the field of infrastructural projects. We are particularly glad to be provided with this specific opportunity by the Moscow Region together with such a strong and solid partners as RDIF and Leader."
Igor Treskov, Minister of Transport and Road Infrastructure of the Moscow Region, said:
"A new overpass in the urban district of Domodedovo will be located in the Vostryakovo micro district, a new overpass in the Pushkin district will appear in the urban settlement of Pravdinsky on the highway Bratovschina - Eldigino - MMK - Gerasimikha. These four-way overpasses across the railway tracks instead of existing ground crossings will significantly improve the transport situation, reduce the waiting time for crossing the railway tracks, and reduce the level of traffic accidents in the region."
Russian Direct Investment Fund (RDIF) is a Sovereign Fund of the Russian Federation 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
Impresa Pizzarotti & C. S.p.A. is one of the largest construction companies in Italy founded in 1910. It specialised in the construction of infrastructure facilities, including roads, tunnels and bridges, airports, as well as healthcare facilities. Pizzarotti today consists of a number of companies operating in total synergy all around the world. Further information at www.pizzarotti.it
Leader is one of the largest management companies in Russia in terms of assets under management and the most high-reliable company in the trust management sector.
The company was founded in 1993 and is currently the leader in financing of Russia's infrastructure construction and modernization.
Leader’s long-term strategy includes the implementation of PPP projects with the concession mechanisms and involvement of PPF funds provided they are fully protected, as well as financing of high-tech and high-quality infrastructure facilities construction in transport, energy, utilities, and sports sectors. For more information, please visit: www.leader-invest.ru
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Hayes / Elena Garside
Tel: +44 (0) 20 7796 4133