"Eastern exit" construciton project is planned to be included in priority list

The project to create a new tollway from Ufa to the federal road M-5 "Ural" (Eastern exit) is planned to be included in the list of priority investment projects. Thus, the concessionaire will be able to claim income tax benefits. This was announced by the Prime Minister of the Government of the Republic of Bashkortostan Andrei Nazarov during a visit to the site together with the Senior Vice President of PJSC VTB Yuri Molchanov.

According to the Prime Minister, the inclusion in the priority list will provide an opportunity to quickly resolve issues, as well as qualify for income tax benefits.

Senior Vice President of PJSC VTB Yuri Molchanov added that the concessionaire expects assistance from the Government RB in providing the facility with 2 million cubic meters of sand and gravel mixture.

General Director of the Bashkir Concession Company Asabali Zakavov, for his part, noted that one of the main tasks would be to meet the terms of the project.

The project for the construction of a new exit from Ufa to the federal highway M-5 Ural (Eastern exit) is being implemented under a concession agreement concluded in 2017 between Bashkir Concession Company LLC (concessionaire) and the Republic of Bashkortostan (concessioner). Following the concluded Concession Agreement, the concessionaire is obliged to finance, design, build and operate the Eastern exit highway.

The term of the agreement is 25 years. The construction cost is 33.5 billion rubles. The shareholders of Bashkir Concession Company LLC are VTB Infrastructure Holding and the Turkish construction and investment holding Limak Group. VTB Group and VEB.RF participate in financing the construction of the facility. The general contractor of the project is Limakmarashavtodorogi LLC.

On June 3, at the St. Petersburg International Economic Forum (SPIEF-2021), the Head of Bashkortostan Radiy Khabirov, President and Chairman of the Board of VTB Bank Andrei Kostin, and Chairman of the State Corporation for Development of VEB.RF Igor Shuvalov signed a direct agreement on constructing the Eastern exit from Ufa to the federal highway M- 5 Ural between the Government of the republic and creditors - VTB and VEB.RF. The amount of the lending ceiling provided by VTB and VEB.RF is 11.6 billion rubles.