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Russian Railways Construction Project for Kaluga Special Economic Zone Railway Receives IRIIS Certification

6 december 2021 года
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The completed project to build a railway to the Kaluga special economic zone under a concession agreement between Russian Railways and the Kaluga Region Government has received certification as compliant with the IRIIS requirements.

An official ceremony took place on 6 December 2021 as part of the IRIIS Final Session on Pursuing Quality and Sustainable Infrastructure to mark the awarded certification.

The project was verified by the Analytical Credit Rating Agency (ACRA); Expert RA; and the Russian Center for Competences and Analysis of OECD Standards (Russia-OECD Center RANEPA).

Svetlana Yachevskaya, Deputy Chairperson and Member of the Management Board, VEB.RF:

“We started testing the system on real infrastructural projects early this year and we have already finished assessing three transport projects. The Russian Railways project in the Kaluga Region is the second pilot awarded IRIIS certification. The verification process involved leading expert organisations: rating agencies and consulting companies. It’s particularly important to build up a portfolio of projects for quality infrastructure investment, taking account of Russia’s goals of creating new, modern infrastructure.”

Vadim Mikhaylov, First Deputy Managing Director, Russian Railways:

“The fact that we gained IRIIS certification is another step for the company towards quality and sustainable infrastructure projects for railways. We have already completed the railway and are in the process of preparing it for operation. Independently verified compliance with international standards gives us an indication that the project is successful.”

Mikhail Sukhov, CEO, ACRA:

“ACRA participated in verification related to the Environment and Climate aspect of IRIIS for the Russian Railways infrastructural project of the Kaluga special economic zone. Our participation is aimed at continuing to improve the methodology, collaborating with VEB.RF in advisory and methodological work, and adapting the IRIIS verification procedure to conform to Russian standards.

“The pilot projects allowed the ACRA team in cooperation with VEB.RF to successfully complete verification for all the three aspects of the IRIIS methodology for infrastructure project assessment: Economy and Governance, Quality of Life, Environment and Climate. The ACRA sustainability risk assessment team is made up of the best ESG assessment experts and fully competent in the use of the IRIIS system. We hope our contribution to IRIIS improvement will help to extend this procedure to more infrastructural projects to enhance their quality and compliance with the principles of sustainable development. We would like to particularly note the well-coordinated efforts of VEB.RF and the National PPP Development Center. They not only developed a high-quality analytical product that is now available for other projects in Russia, but also were active in helping us to communicate with the project initiator, Russian Railways.”

Pavel Seleznev, General Director, National PPP Development Center (part of the VEB.RF Group):

“The Russian Railways project shows that major companies are very much interested in making their new infrastructure more efficient without negative impacts on the environment or human life. Judging by the certification of three projects, we are confident about the future of IRIIS as a good tool for the market. To make the certification process more convenient, we used the ROSINFRA platform to launch an online module that enables users to submit an application, communicate with verifiers and assess their own projects.”

The IRIIS system is based on international best practices in independent infrastructure sustainability assessment, such as rating schemes currently used in the United States, Australia, the United Kingdom and other countries. The system is designed to bring into practical use the Principles for Quality Infrastructure Investment and the Sustainable Development Goals.

The development and public discussion of IRIIS gave due consideration to proposals from a wide range of both foreign and Russian experts.


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