RDIF announces the commissioning of new sections of the Central Ring Road
Moscow, Dec. 28 -- Russian Direct Investment Fund issued the following news release:
The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund) has announced the opening of Start-up Facility No.4 of the Central Ring Road (СKAD) in the Moscow region for traffic. Avtoban, a construction and investment holding, the Eurasian Development Bank (EDB) and the VEB.RF Group have invested in the construction and further operation of this section, alongside RDIF and its Middle Eastern partners. At the same time, the Russian Highways State Company Avtodor has commissioned Start-up Facilities No. 1 and No.5 as well as Section 3-5 that connects Start-up Facilities No. 3 and 5. In November, Start-up Facility No. 3 was launched with RDIF acting as an investor alongside Avtoban and EDB.
Thus, traffic has been launched on sections that make up almost 90% of the Central Ring Road, the world's largest modern ring highway. RDIF and its partners have facilitated the implementation of more than 50% of the Central Ring Road project through the constructed sections. These facilities have been built on time in accordance with international quality standards. Start-up Facility No.3 with a length of 105 km is the longest section, whilst the length of Start-up Facility No.4 is 97 km.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund, commented:
“The launch of traffic on most sections of the Central Ring Road is a landmark in the creation of the world's largest ring highway and the entire road industry of the country. RDIF and its partners are focused on implementing key infrastructure projects to achieve national development goals, including the Comprehensive Plan for the Modernisation and Expansion of Trunk Infrastructure. The implementation of the Central Ring Road project will radically change the logistics in the European part of Russia, stimulate economic development and create 200,000 new jobs in the region, as well as reducing transit traffic through Moscow and the Moscow region by more than 30%.”