KAZAN, Oct 13 (PRIME) -- Russian Holding Company (RHC) and China’s CC7 have established a special purpose vehicle for construction of the Meridian highway, and plan to sign a concession agreement, Igor Koval, first deputy CEO of state-run highway operator Russian Highways, told reporters on Thursday.
“Russian Holding Company has established a special purpose vehicle for implementation of the Meridian project together with CC7. The plan was initially to be implemented under a concession agreement. The company created by RHC and their colleagues from CC7 has a goal of preparing a private concession initiative for implementation of Meridian,” he said.
Koval also said that it would be impossible to implement such a large-scale project only with private money. The government will consider the concession initiative if the companies file for that, he said, adding that a 50–50 private-public partnership was an option.
The Russian authorities initially drafted the Meridian highway as a link of transit from China to Europe, but the latest geopolitical changes amended the project. Russian Highways plans to change the highway’s route and connect it to an express road that will run from the Urals to the Krasnodar Region through the cities of Samara, Saratov, and Volgograd.
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