SPIEF: VEB.RF and Avtodor to Attract Funding for Transportation Projects
VEB.RF and the Russian Highways State Company (Avtodor) with the support of the Roscongress Foundation are creating an investment platform to support PPP projects.
Director General of InfraVEB JSC and Deputy Chairman of VEB.RF Yuriy Korsun and Chairman of the Board of Directors of Avtodor-Invest LLC Pavel Seleznev signed the document creating the platform. The signing ceremony took place as part of the St. Petersburg International Economic Forum and was attended by Chairman of the Board of Avtodor Vyacheslav Petushenko.
“It is particularly important at present that we find efficient new financing mechanisms for the transport sector that would, on the one hand, solve the problem of replacing budgetary resources, and overcome the financial constraints of the PPP investment market on the other. The parties are currently considering a number of projects for preparation and subsequent submission to investors. If VEB.RF is to participate in the financing of such projects, InfraVEB could provide equity financing to the borrower following the results of financial structuring”, Korsun said.
“The investment platform will make it possible to attract financing for the preparatory stage of PPP transport sector projects, the implementation of which will remove existing infrastructure limitations and have a positive impact on the socio-economic development of the Russian Federation. At the same time, the partnership does not exclude participation in projects in other infrastructure sectors”, Seleznev said.