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24 March 2017

Project for the construction of the third start-up complex of the Central Ring Road receives award of The Lawyer European Awards in nomination “Best Power and Infrastructure Deal of 2017”

The project for the construction of the third start-up complex of the Central Ring Road received the award of The Lawyer European Awards in the nomination Best power and infrastructure deal of 2017 of the prestigious British journal “The Lawyer”.

“The jury has chosen CRR-3 because it was quite difficult to implement the deal for 1 billion euros in such macroeconomic conditions (an economic crisis, sanctions, devaluation of ruble, etc.) and according to usual international standards. Of course, it’s a very good recognition both for the team of the State Company Avtodor and for the Herbert Smith team, - comments Olga Revzina, the Partner, Head of the Russian practice of infrastructure and projects of public-private partnership (PPP) of Herbert Smith Freehills.

                On March 1, 2017, the financial closing under the Concessionary agreement for construction of the 3rd start-up complex of the Central Ring Road (CCR) in the Moscow Region took place. The document of financial closing was signed by the representatives of the State Company Avtodor and Limited Liability Company Road Building Corporation (a special project company, founded by OJSC “Road-Building Company “Avtoban” for implementing the project of the Central Ring Road-3). Loan financing is provided by Gazprombank and the sum amounts to 35.6 billion rubles. Total cost of the project construction is 81.4 billion rubles.

The third start-up complex of the Central Ring Road 105,3 km long will connect the new M-11 Moscow-St. Petersburg Highway with M-7 Volga Highway. The new highway will pass through Solnechnogorsk, Dmitrovsk, Pushkino, Shchyolkovo, Noginsky districts and the city district of Chernogolovka. The project provided construction of 4 road interchanges, 20 bridges, and 52 overhead roads. The estimated speed will amount to 140 km/h. Project implementation will also promote creation of new jobs in this region.

 

The annual award “The Lawyer European Awards” of the well-known British legal journal “The Lawyer” is one of the most prestigious awards conferred in international legal community. The jury consists of the Heads of Legal Departments of the largest international companies, as well as managing partners of the leading international law companies.

 

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               The State Company Avtodor was established in 2009. The company’s goal is to develop a network of express toll roads, encourage off-budget investments and develop service area facilities.  The asset management of the State Company embraces such highways as M-1 Belarus, M-4 Don, M-3 Ukraine and a new highway M-11 Moscow - St. Petersburg. The State Company carries out their comprehensive reconstruction. Avtodor is also the executive in charge of construction of the Central Ring Road in Moscow and Moscow region.

Herbert Smith Freehills is one of the leading law firms rendering professional services worldwide.