$1.5 billion for Timchenko to build part of Central Ring Road
Sergei Kelbakh, the CEO of Avtodor unitary enterprise, said they would sign the papers with Stroytransgaz before the end of February.
Stroytransgaz run by businessman Gennady Timchenko will get a contract for the construction of the 4th section of the Central Ring Road around Moscow, Avtodor CEO Sergei Kelbakh told Dozhd TV. The transaction will be made between Stroytransgaz and financial investors – Leader Management Company and Russian Direct Investment Fund (RDIF). It should be noted that Timchenko’s company is not going to finance the construction: the investors will do this. According to the construction site billboard, the total cost of the 4th Ring Road section will be 90 billion rubles ($1.5 billion), including 40 billion ($675 billion) that Leader and RDIF are to attract, with the state providing the remaining amount. Sergei Kelbakh said that the contract between Stroytransgaz and the investor would be signed before the end of this February. The company refused to comment on the matter.
As the CrimeRussia reported previously, the construction of the 500-km-long Ring Road started in autumn 2015. Its cost is estimated at 300 billion rubles ($5 billion). Half of that money will come from the National Welfare Fund, and private investors will attract the remaining funds. Most of the construction works should be completed by 2019.
The Central Ring Road project was started in 2007. It focuses on relieving pressure on the federal highways and Moscow Ring Road by redistributing the transfer stream. The roads will get over 520 km long with paid access to most of them. Starting complexes 1 and 3 in the form of a ring with 327 km circumference are to be finished by 2018 followed by starting complex 2 that will be a 200-km branch road from the ring.