RDIF and Italian Company ANAS Agree to Jointly Implement Infrastructure Projects in Russia

MOSCOW, Oct. 24 — The Russian Direct Investment Fund issued the following news news release:

The Russian Direct Investment Fund (RDIF), the sovereign wealth fund of Russia and the leading Italian state highway management company ANAS have agreed to make new joint investments in Russian roads. A corresponding agreement was signed today on the sidelines of the meeting of Russian President Vladimir Putin and Italian Prime Minister Giuseppe Conte.

In accordance with the agreement, the parties have agreed to jointly implement investment projects set out in the “Comprehensive plan for the modernization and expansion of Russia's core infrastructure.” Potential projects include:

1 Construction and operation of a section of the Krasnodar city bypass on the M-4 “Don” highway in the far west of Russia (total length of 52.6 km);

2 Construction of the “Moscow – Nizhny Novgorod – Kazan” expressway – part of the “Europe – Western China” international transport route (total length of approximately 729 km);

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3 Infrastructure development, reconstruction, maintenance, repair, overhaul and operation of the M-4 “Don” federal highway from km 715 to km 1024, which passes from Moscow through Voronezh, Rostov-on-Don, and Krasnodar to Novorossiysk (Section 3, total length of 309 km).

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), noted:

“We welcome the expansion of our partnership with the Italian infrastructure company ANAS. During the implementation of a joint project to reconstruct and operate a section of the M-4 “Don” highway, ANASproved to be a reliable and qualified partner, which demonstrated a strategic interest in expanding its presence in the Russian market. The further consolidation of our joint efforts will ensure high quality construction and implement ANAS' best practice and pioneering use of technology across Russia's road network. Our partnership will also improve the safety of Russian roads and give additional impetus to the development of Russia's regions. “

Gianni Vittorio Armani, CEO Anas, said:

“I am very satisfied with the agreement signed today that confirms the sound relationship built with our Russian partners. One year ago, we started working in Russia with a highway pilot project of 228 km, the Krasnodar – Rostov section of the M4 “Don” highway. Today this agreement confirms the synergy between our Countries. Anas technological know-how and operational best practice have been successfully implemented thanks to the fruitful cooperation with RDIF. We would like to note that Russia's foreign investment legislation is very favorable for foreign companies which also helped us in moving this project forward. Anas can now play a strategic role in the modernization of road infrastructures in Russia.”