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3 September 2015

Avtodor Signs Memoranda of Understanding with Chinese Key Players on the Market of Construction and Operation of Speed Highways

On September 2, in Beijing Avtodor State Company entered into two Memoranda of Understanding with Chinese key players on the market of construction and operation of speed highways.

The first document relates to the cooperation with Shandong Toll Roads Corporation. The document was signed by Sergey Kelbakh, Chairman of the Board of Directors of the Russian State Company, and Song Lian, Chairman of the Board of Directors of the Chinese Corporation. On the same day, the representatives of finance and investment departments of both companies held a meeting.

Shandong Toll Roads is a multi-business financial construction group, whose main business activities include financing, construction and operation of toll roads. The corporation is one of the largest companies in the People's Republic of China in the area of development of toll roads. At present, it operates 2,800 km of toll roads, and 1,000 km of motorways of the Group are under construction.

The second memorandum was signed with China Civil Engineering Construction Corporation, CCECC.

CCECC is also one of the largest corporations in China. It’s engaged in design and construction of speed highways, bridges and tunnels in China and outside its boundaries. The agreement was signed by Innokeniy Alafinov, First Deputy Chairman of the Board of Directors for Investment and Financial Policy of Avtodor State Company, and Hao Izhong, Vice-President of China Civil Engineering Construction Corporation. The document provides for building mutually beneficial long-term cooperation in the sphere of experience and information exchange, and solution of current problems of the road sector.