A consortium of investors including the Russian Direct Investment Fund, Macquarie Russia and CIS Infrastructure Fund has applied to take part in the tender for a new toll road between Moscow and St Petersburg.
Lider CJSC and Gazprombank OJSC are also part of the group, which will be responsible for financing, building and operating the RUB83.1bn ($2.5bn) M11 section from 543km to 684km, which is next to the ring road around St-Petersburg.
The section will consist of four to six lanes with the traffic capacity of more than 20 thousand vehicles per day. A quarter of the initial cost will be financed by private investors.
Avtodor SC will consider applications until mid-October 2013, before inviting final bids. The tender winner will be announced in April 2014 and construction completed in 2017.
AltAssets revealed in March that Russia was about to take a huge leap forward in its quest to put itself on the map as a prime destination for private equity capital, with the $10bn RDIF preparing for its busiest year on record.
The fund, which was set up two years ago, plans to allocate $2bn this year, anticipating some major private equity firms will join it in deals expected to range from$100m to more than $1bn.
Having established a strong relationship with sovereign wealth funds, RDIF has also done a few deals with buyout majors such as China Investment Corporation and BlackRock.
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