A respected international financial magazine named EMEA Finance provides yearly awards-winning ceremonies for financial organizations worldwide, which have a valuable impact on development of economic sector they are in. This year, the Project of Sections 7 & 8 of Moscow – St. Petersburg M-11 Highway shared by VTB Capital was named the best in Central and Eastern Europe as per the rating of EMEA Finance.
In May 2014, ”Two Capitals Highway” company, formed by VTB Capital and Vinci Concessions, won the tender organised by the "Russian Highways" State Company for the right to enter into the Concession Agreement on Financing, Construction and Toll Operation of Moscow -– Saint. Petersburg Highway at Sections km 543 - km 646 and km 646 - km 684.. The Concession Agreement between the Government of the Russian Federation, duly represented by the "Russian Highways" State Company, and "Two Capitals Highway" LLC was signed on November 18, 2014.
VTB Capital acted as investor, lender, bond arranger and financial advisor for the project, which is of strategic importance for the development of transport infrastructure in Russia. The project’s investment budget is estimated at more than 80 000 000 000 rubles Construction of these highway sections is planned for 2015-2018 and these should be in operation in 2018-2041.
Oleg Pankratov, Global Head of Infrastructure Capital and Project Finance at VTB Capital, said: “The M11 Moscow – St-Petersburg Highway project plays a fundamental role in road infrastructure development in Russia and this international award confirms its innovative financing structure (including the first ever Russian infrastructure bond issuance backed by the concession agreement rights) and scale. I am confident that this successful experience will allow VTB Capital to further develop its infrastructure business at the highest level.”
Take note that in 2015 Moscow – St. Petersburg M-11 Highway was named the best Public-Private-Partnership (PPP) in the road infrastructure category by ROSINFRA, the Russian national infrastructure award.All news