Moscow Central Ring Road Section 3

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CRR Section 3 passes across the north-west of Moscow Region from intersection with M-11 Moscow — Saint Petersburg Expressway under construction to the intersection with M-7 Volga Motorway. The total length of section 3 is 105.3 km. Eurasian Bank acquired 25 per cent in the project company ASK, thus the original concessionaire Avtoban remained with 75 per cent. Concession was awarded following a competitive bidding process, in which 5 bidders participated. The criteria was lowest capital subsidy and availability payments to the concessionaire. The government will guarantee the availability payments to the concessionaire. The project is being implemented as a brownfield, BOT model for a period of 30 years. The construction is financed using the federal budget subsides, funds of the National Welfare Fund of Russia and extra-budgetary sources of financing. The project is estimated to require approximately RUB 80 billion ($1373 million). The state funding (capital subsidy) amounts to nearly RUB 43 billion ($737.1 million) and represents 54 per cent of the total funding. Hence, private capital in the project will represent 46 per cent of the total investment. In March 2017, the SPV secured debt financing with Gazprombank totaling $610.2 (RUB 35.6 billion or 44 per cent of total cost). The remaining $25.7 million funding is being provided by the sponsors - Avtoban $19.3 million, and Gazprom $6.4 million. The project is expected to be completed within 36 months. http://avtodor-invest.com/en/projects/case/pk-3/events/bid-qualification/ http://avtodor-invest.com/en/projects/case/pk-3/events/concession-bid-notice/