RDIF and partners announce financial completion of СKAD-4 construction project
Moscow, December 13, 2019 – A consortium of investors including the Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, and a group of leading Middle Eastern funds, have announced the completion of funding for the Startup Facility No. 4 of the Central Ring Road (СKAD-4).
Following completion of equity and debt financing, the project will amount to around RUB40 bn. RDIF and partners to provide more than RUB4 bn of financing. Sberbank, Gazprombank, the Eurasian Development Bank and VEB.RF are also acting as project creditors.
RDIF is the leading partner of the project with a 40% stake in the concessionaire for the construction of СKAD-4 – South-Eastern Highway LLC. GK Avtoban acts as the operating partner.
The construction of CKAD- 4 is planned to be completed no later than October 2021.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“Financing of this project by RDIF and partners will enable the timely completion of the construction of a nearly 100 km-long 4th section of the Central Ring Road. Taking into account that the 3rd section has also been financed by RDIF, the Fund and partners support the implementation of 40% of CKAD project. It will become the largest ring road in the world meeting all international standards and tasks set out by the National project “Safe and High-Quality Roads”. Implementation of CKAD project will fundamentally change the logistics in European part of Russia, it will give a boost to economic development, creating 200,000 new jobs in the region and reducing transit traffic through Moscow and the Moscow Region by more than 30%."
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 RUB1.5 tn and covering 95% of the regions of the Russian Federation. RDIF’s portfolio of companies employs more than 800,000 people and generates revenues which equate to over 6% of Russia’s GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40 bn. Further information can be found at www.rdif.ru
For additional information contact:
Arseniy Palagin Maria Shiryaevskaya / Andrew Leach
Russian Direct Investment Fund Hudson Sandler
Press Secretary Tel: +44 (0) 20 7796 4133
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