Russian road PPP reaches close
26 June 2012
Russia's €2.5bn Western High-Speed Diameter (WHSD) toll road PPP project in St Petersburg has reached financial close with five banks.
The 30-year deal will see preferred partner The Magistral Severnoy Stolitsy consortium (comprising VTB Bank, Gazprombank, Astaldi, IC Ictas Insaat and Mega Yapi) build and maintain an eight-lane passenger and freight transport link to the country's capital, the national road network and Russia's Grand Port.Under the terms of the deal, the European Bank for Reconstruction and Development has provided a €200m loan.
The other banks are:
- Vnesheconombank (VEB), providing €600m
- VTB Capital and Gazprombank, contributing €410m;
- Eurasian Development Bank, providing €250m
The project is the first large road deal to be awarded to a private sector concessionaire under PPP in Russia.
