VEB.RF-Supported Central Ring Road Project Phase 4 Begins Operation

An official ceremony took place to mark the opening of regular traffic via CRR-4 (Phase 4 of the Moscow Region’s Central Ring Road), a project completed with the VEB.RF Group’s involvement.

“The development of highway infrastructure is a key area of VEB.RF’s investment. We are pleased that CRR-4 traffic was opened 10 months ahead of schedule. The Central Ring Road and, specifically, the CRR-4 project will relieve the Moscow transport hub of transit freight traffic. In addition, the project will improve transport accessibility in neighbouring agglomerations in the Moscow Region (due to substantially reduced travel time), which is extremely important for people. As a development institution, VEB.RF helped the project to raise subordinated debt capital and became a member of the syndicate of senior lenders, while InfraVEB acquired a stake in the concessionaire and provided equity financing,” VEB.RF Vice-President Vera Aleksandrova said.

CRR-4 promotes cross-border transport through the Western Europe-Western China transport corridor. Connecting the M-7 Volga federal highway to M-4 Don, the 96.5-kilometre road runs in the south-east of the Moscow Region, 50 kilometres from the Moscow Ring Road.

The total project value exceeds 100 billion roubles. Private funding for the project consists of 4.1 billion roubles in subordinated debt for 20 years (junior tranches) and a syndicated loan provided by senior lenders, namely VEB.RF, Gazprombank, Sberbank and the Eurasian Development Bank (EDB), for a total of 35.8 billion roubles for 17 years.

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