The Company was established in July 2013 by the VTB Capital investment bank and French VINCI group to implement the project of the construction and operation of Sections 7 & 8 of M11 Highway based on public-private partnership.
In April 2014, “Two Capitals Highway” LLC won an open tender for the right to conclude a concession agreement on financing, construction and toll operation of Moscow – St. Petersburg M11 Highway at sections from km 543 to km 646 and from km 646 to km 684. The Concession Agreement made between the Government of the Russian Federation, on behalf of which “Russian Highways” State Company acts, and “Two Capitals Highway” LLC, was signed on November 18, 2014. The Agreement was concluded for 27 years: for the construction period until 2019, and the operation period until 2041.
September 3, 2019 is the date of traffic opening at Section 7 of M11 Moscow - St. Petersburg Highway from Velikiy Novgorod to Tosno. And November 27, 2019 is the date when the Russian President Vladimir Putin personally gave an official start to traffic along the ultimate, eighth section of M11 Highway, which is adjacent to the St. Petersburg Ring Road.
The federal M11 highway, named Neva at the opening, is operated as a toll highway. M10 Rossiya Highway remains its free-of-charge alternate route.