Delegation of the State Company Avtodor headed by Chairman of the Board Sergei Kelbakh visited the Kingdom of Bahrain on a business trip. During the visit, Avtodor held meetings with representatives of the royal family, the leadership of the Ministry of Transportation of Bahrain, and the largest investors and financial funds, including Mumtalakat Bahrain national sovereign fund.
The main purpose of the visit was the presentation of the company and its investment project portfolio, establishment of investment relations and cooperation programs with financial and business circles of Bahrain.
The arrival of the State Company delegation caused a wide resonance among Bahraini investment business representatives, having become the logical continuation of the achieved high agreements about cooperation between the King of Bahrain and the President of the Russian Federation Vladimir Putin.
During negotiations, the parties discussed the possibility of inviting investments from Bahrain and other Arab countries in the projects to develop a network of high-speed roads in Russia. The parties agreed to exchange all required information on the planned projects and hold further bilateral negotiations within the framework of St. Petersburg International Economic Forum and a return visit to the Kingdom of Bahrain scheduled for the end of June.
The State Company Avtodor presented a wide range of instruments used to implement the public-private partnership projects including the concessions, long-term investment and operator agreements.
Bahraini investors showed a particular interest in the draft corporate PPPs, in particular, with respect to a new pattern successfully tested in the project of the fourth section of M-4 Don Highway. The State Company Avtodor informed the Bahraini colleagues about its plans to implement three more projects following this new pattern, namely the construction of the far western bypass of Krasnodar, a single operator of the Central Ring Road, and the construction of a new access road to the Domodedovo Airport for total cost of about 1 billion dollars. For its part, the State Company Avtodor confirmed its interest in detailed study of the instruments of Islamic banking and the possibilities of their adaptation and use to raise funding for the company infrastructure projects.
“The State Company is just beginning to work with the Islamic world, it's a new experience and a new niche for us”, - said Chairman of the Board of the State Company Avtodor Sergei Kelbakh. We have presented not only the portfolio of our projects, but also a good prospect of the transport sector development throughout the country. It impressed our dialogue partners and aroused their great interest."