Moscow memorandum

By Steve Skinner30 November 2009

Russian prime minister Vladimir Putin

Russian prime minister Vladimir Putin

Vinci Concessions has signed a memorandum of understanding (MoU) with the European Investment Bank (EIB), European Bank for Reconstruction and Development (EBRD) and Vnesheconombank (Russian Development Bank) regarding financing for a critical section of the Moscow to St Petersburg motorway in Russia.

In the presence of French prime minister, Francois Fillon and Russian prime minister, Vladimir Putin, signatories took a significant step towards realising a 43 km section of motorway between central Moscow and Sheremetyevo airport with a construction value of € 1 billion.

The concession contract for the design, financing, construction and operation of the motorway section was signed by Vinci in July 2009. The MoU confirms the European banks' support for the project and means construction through Vinci subsidiary North-West Concession Co and its Russian partners could start as soon as spring 2010.

The concession contract is for 30 years with an optional five year extension and construction is anticipated to take 36 months. Once completed, the tolled motorway should alleviate congestion on the existing M10 link between the airport and city centre.
Latest News
Terex to move 10 Genie product lines
Genie will begin producing a range of its scissors, vertical mast units and telehandlers from its Monterrey, Mexico plant
LGMG’s Mexico plant set to open in second half
Chinese manufacturer will begin producing MEWPs for U.S. customers from new Monterrey, Mexico plant later this year
Engcon commits to Science Based Targets initiative
‘Sustainability forms basis of long-term growth’ says president and CEO