Russian fund, Italy's ANAS team up in $1.3 bln Moscow ring road deal

Reuters, 12.12.2018

MOSCOW, Dec 12 (Reuters) - A Russian state fund and Italian road maintenance company ANAS have agreed to build a section of road around Moscow at a cost of over 85 billion roubles ($1.3 billion), the fund said on Wednesday, as the two countries strengthen economic ties.

The Russian Direct Investment Fund (RDIF) said the parties would allocate 49.7 billion roubles to the project, while private investors would provide a further 35.7 billion roubles for the construction of a section of the Moscow Central Ring Road.

RDIFsaid the deal is based on a previous agreement signed by RDIF and ANAS on the sidelines of a meeting between Russian President Vladimir Putin and Italian Prime Minister Giuseppe Conte in October.

RDIFand ANAS will build and operate the section of road.

The chief executive of state-owned ANAS resigned last month after Italy's new populist government pulled a project by the previous centre-left executive to merge ANAS with the national railways.