Construction of Moscow Ring Road. Leader Asset Management Co., Portugal’s Brisa and two foreign firms are creating a consortium to take part in two pilot projects of toll highways in Russia.
Photo: Alexander Driaev
| Other Photos |
 |
|
 |
Leader to Lay Toll Highway
Leader Asset Management Co. that manages funds of Gazfond, Portugal’s Brisa and two more foreign firms are creating a consortium to bid for two pilot projects of toll highways in Russia. If their consortium prevails, Leader’s CEO Yuri Shamalov will absorb $3 million in investments, of which the government will ensure a third.
Brisa Auto-Estradas de Portugal SA announced yesterday it entered into an intention protocol with Leader Asset Management Co. to jointly bid at the government’s tenders for financing, constructing and managing toll highways in Russia. The matter at stake is the first section of Moscow-St. Petersburg high-speed road (from 15th through 58th kilometers) and the section from the Moscow Ring Road to M1 Moscow-Minsk Road that will run bypassing Odintsovo. The statement of the companies was timed to Russia-EU Round Table of Industrialists that is held in Lisbon.
”We have decided to set to establishing a consortium,” confirmed Leader General Director Anatoly Gavrilenko. “Only consortium may take part in the project, and it should have at least three participants, as no company is able to independently meet all requirements.”
Indeed, a bidder is to have the annual turnover of at least 30 billion rubles and benefit from the road construction/management experience of no less than five years. Portugal’s biggest highway operator, Brisa is experienced enough. Its market capitalization is roughly ˆ4 billion, 2006 EBITDA was ˆ417.8 million, net profit - ˆ167 million.
As to Leader, it is one of the most powerful asset management companies in Russia thanks to its origin and political ties of top management. Its CEO is Yuri Shamalov, president of Gazfond. His father, Nikolai Shamalov, was the mate of Vladimir Putin in time of Ozero cooperative.
According to the sources, Transstroy Corp. will be Leader’s chief competitor for the section of Moscow-St. Petersburg highway. Of interest is that Basic Element chief Oleg Deripaska is negotiating the buyout of 50 percent in Transstroy.
www.kommersant.com
All the Article in Russian as of Oct. 26, 2007
|
|
|
