The investment division of China's China Railway Construction Corporation (CRCC) has filed a private concession initiative to finance and build the Vladivostok Ring Road (VKAD) in Primorye.
The motorway will be 30 km long. First, it is planned to build a 10 km section from Russky Island through Elena Island to Kazanskaya Street on the Shkota Peninsula in Vladivostok.
The representative of CRCC International Investment estimated the volume of investments in the first stage of construction in the range of 80-85 billion rubles. The Chinese company is going to invest 20-30% of the project cost and raise the rest on the market. The Eurasian Development Bank (EDB) and the Far Eastern branch of Sberbank have already shown interest in this project.
»Sberbank is interested in financial support from CRCC in the implementation of the Vladivostok Ring Road (VKAD) project. At the moment, the bank is studying the project and considering possible options for financing the Chinese company.
The project also has support at the interstate level. Within the framework of the 8th Meeting of the Intergovernmental Russian-Chinese Commission on Investment Cooperation, chaired by First Deputy Prime Minister of Russia Andrey Belousov and Deputy Premier of the State Council of China Han Zheng, the construction project of the VKR was included in the list of promising projects of the Intergovernmental Russian-Chinese Commission on Investment Cooperation”, — reported in the press service of Sberbank.
The start of construction of the first stage is scheduled for 2023. The general contractor for the construction will be the Russian subsidiary CRCC Rus.
bbabo.Net