RDIF, Rosavtodor and Garden Ring agree on the construction and restoration of overpasses
Press release, 14.02.2019
Sochi, February 14, 2019 – The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, the Federal Road Agency Rosavtodor and the investment company Garden Ring have agreed to cooperate on the development of road infrastructure, implementing projects to construct and restore bridges and overpasses through public-private partnerships mechanisms and the attraction of private investment. The agreement was signed today on the sidelines of the Russian Investment Forum in Sochi.
Under the agreement, the parties will jointly select projects focused on the construction and restoration of regional railway overpasses for implementation. The implementation of the projects will be aimed at increasing the capacity of Russia’s road infrastructure and road safety.
At the first stage, RDIF and Garden Ring are considering up to 10 overpass construction projects in the Russian regions with the possibility of subsequent expansion of the programme.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), noted:
“RDIF is actively involved in the implementation of the Comprehensive Plan for the modernization and expansion of road infrastructure, using its accumulated experience and expertise, as well as the capabilities of its international partners. We are convinced that the improvement and active use of PPP mechanisms will significantly increase not only the number of projects implemented, but also their efficiency. Together, we are creating a nationwide network of railway overpasses, which will increase comfort and safety on the roads, as well as improve the environmental situation in the regions. ”
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. Currently, RDIF has experience of the successful joint implementation of more than 70 projects with foreign partners totaling more than 1.4 trillion rubles and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 700,000 people, and generate revenues which equate to more than 5% of Russia’s GDP. RDIF established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than 40 billion dollars. Further information can be found at www.rdif.ru
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Leach / Maria Shiryaevskaya
Tel: +44 (0) 20 7796 4133