Gennady Timchenko-associated company wins tender for quarter reconstruction near Zaryadye

Gennady Timchenko-associated company wins tender for quarter reconstruction near Zaryadye
Gennady Timchenko

In addition to 10 billion rubles ($172.3 thousand) for the purchase a complex of 33 buildings, GorKapStroy-Garant promises to invest as much in its development.

GorKapStroy-Garant has won an open tender for the reconstruction of a complex of buildings near the Kremlin and Zaryadye park in Moscow.

The company is to buy 33 buildings on the Moskvoretskaya Embankment for 10 billion rubles, RBC reports citing a press release of the Moscow Department for Competition Policy. 

As it was previously reported, the initial value of the lot at the auction, which took place on October 27, was 8.6 billion rubles ($148.2 million). In early October, Vedomosti called Gennady Timchenko's Volga Group one of the potential buyers of a site that includes the former Peter the Great Military Academy of Strategic Missile Forces. However, Volga Group's representatives said that the businessman is not interested in this plot. 

After the bidding, Reuters reported that GorKapStroy-Garant is associated with Volga Group, noting that this information has not been officially confirmed. Vedomosti had also previously pointed out GorKapStroy-Garant acting in the interests of Gennady Timchenko’s Volga Group. In 2012, Stroytransgaz, connected with the structures of Timchenko, planned to buy 25% of GorKapStroy’s shares. Later, GorKapStroy-Garant’s Managing Partner, Oleg Sapronov, denied it through his representative.

The Moscow authorities put up the Peter the Great Military Academy of Strategic Missile Forces for auction in July 2017. The site is located several hundred meters from the Kremlin. It includes 33 facilities with a total area of 133 thousand square meters. Nine buildings of the complex are objects of cultural heritage.

In addition to 10 billion rubles for the project purchase, GorKapStroy-Garant promises to invest as much in its development. In accordance with the plan submitted in August by the Moscow government, the winner of the auction must preserve and restore the historical objects. A hotel will be located in one of the buildings.

Discuss

Recommended

1 / 3