Astaldi, as part of a joint venture with the Turkish company, IC Ictas, announced it has signed the contract for the design and construction of two lots of the Moscow-St. Petersburg motorway in Russia, for a total of 140 kilometres. The total contract value amounts to RUB 68 billion, equal to approximately EUR 1.1 billion.
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The joint venture set up by Astaldi (50%) and IC Ictas (50%) will construct the motorway in the capacity of General Contractor and on behalf of Two Capitals Highway LLC – comprising VTB Group and VINCI Concessions. The latter was awarded the concession for construction and management of the motorway by AVTODOR, the state company responsible for building and developing Russia’s toll motorway network. The Moscow-St Petersburg motorway plays a strategic role for the country’s infrastructure development also in light of the 2018 World Soccer Championship which will be hosted in Russia.
The works to be performed refer to Lots 7 and 8 of the motorway, which will form Corridor Nine of the Trans-European transport network. The route will feature both 6 lanes and 4 lanes, with traffic travelling at a maximum speed of 150 km/h. The works will start by the end of July and are planned to last 35 months.
This acquisition is especially important for Astaldi Group insofar as it consolidates its presence in Russia on the one hand, and, on the other, will allow for significant operating economies. This is due to the fact that the lots acquired are located near to where the same joint venture is already performing works to complete the Western High-Speed Diameter in St. Petersburg.
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