Press room


15 February 2018

RDIF, AVTOBAN DSK JSC and Makyol sign an agreement to form a consortium for the construction of the fourth stage of the Central Ring Road

The legal procedures on Makyol’s, the Turkish construction company’s accession to the South-East Highway will be completed in the near future. The Turkish party will hold 33.33% shares in the company. Avtoban DSK JSC is planning to increase its share of 33.34%, and RDIF intends to retain its 33.33% share in the company.

On February 15, at the Investment Forum in Sochi, an agreement to form a consortium was signed, which will incorporate the RDIF, the Russian road construction company Avtoban DSK JSC and the Turkish construction company Makyol. The signing ceremony was attended by the Deputy Prime Minister of the Russian  Federation Arkadiy Dvorkovich, the Russian Minister of Transport Maksim Sokolov, and Chairman of the Board of the State Company Avtodor Sergei Kelbakh.

The investment project to finance, construct and operate the project “Central Ring Road of Moscow Region” on a fee basis. Launch Complex (Construction Phase), No. 4" (hereinafter - the Project) is the ring-closing launch complex in respect of which a concession agreement with the South-Eastern Highway LLC was signed on June 2, 2017.

The cost of construction under the Concession Agreement is RUB 85.4 billion, including financing by the Grantor in the amount of RUB 49.7 billion (58%) and private investment totaling RUB 35.7 billion (42%).

All consortium members have sufficient investment potential and professional competence in the road infrastructure construction for the successful project implementation.


Information about the companies:

RDIF is the sovereign investment fund of the Russian Federation with a managed reserved capital of $10 billion. RDIF makes direct investments in leading and promising Russian companies, together with top global investors.

The fund was established in 2011 on the initiative of the President and Prime Minister of the Russian Federation. In all transactions, RDIF acts as a co-investor together with major international investors, playing a catalytic role in inviting direct investments in Russia.

The Russian Direct Investment Fund has invested and approved more than RUB 1 trillion for these purposes, more than RUB 100 billion of which are RDIF funds and more than RUB 900 billion are the funds of co-investors, business partners and banks. RDIF also raised more than $30 billion of foreign capital for the Russian economy, having built a number of long-term strategic partnerships.


AVTOBAN DSK JSC is one of the three largest Russian road-building companies, the total portfolio of which includes PPP contracts more than RUB 250 billion worth. The company provides a full range of services in the area of road construction, industrial and civil construction, engineering, design and research services. Avtoban DSK JSC is involved in the PPP market development at the federal and regional levels as an investor and operator in the segment of construction and maintenance of toll roads. Avtoban DSK JSC is one of the largest general contractors of the Rosavtodor Federal Road Agency, the State Company Avtodor. The geography of its presence covers 15 territorial entities in 5 federal districts of the Russian Federation. Major projects include new construction and renovation of routes M1 Belarus, M3 Ukraine, M4 Don, M5 Ural, M7 Volga, M7 Kholmogory, and M11 Moscow-Saint-Petersburg. Avtoban DSK JSC was assigned "ruA-" level by RAEX (Expert RA), and Moody's affirmed the corporate rating at B1. As of 2018, the number of employees exceeds 5 thousand persons and the fleet of the road construction equipment is more than 1,200 units.


Makyol is the Turkey's leading contractor for the construction of roads, subways and tunnels. As of 2018, the total volume of contracts in Makyol project portfolio exceeds USD 5.3 billion. At the end of 2016, the consolidated total income of Makyol amounted to USD 1.1 billion, including the income from the concession projects. The revenue for 2017 is expected to reach USD 1.2 billion. Makyol is the main shareholder of the Turkey's largest concession project in the transport sector ever –  423 km long Gebze-Izmir Highway, which includes the construction of the world's 4th longest suspension bridge, with a total amount of investment reaching USD 7.3 billion. The finished road sections have already been commissioned. The company is a shareholder in Kazakhstan's first concession project, BARR (Big Almaty Ring Road) with a total investment of about USD 800 mln (the concession agreement was signed on February 7, 2018). BARR is Kazakhstan's first project of a highway construction using public-private partnership (PPP). Makyol implemented construction projects in Morocco, Algeria, Iraq, Oman, Kuwait, Albania, Azerbaijan, and Kazakhstan.