Vinci – a cover for oligarchs and tax havens in Russia's first road PPP
Publisher: CEE Bankwatch Network
Volume: 6 pages, pdf
Description:
The first section of the Moscow – St. Petersburg motorway (km 15-58) is widely heralded as being the first public-private partnership (PPP) in the roads sector in Russia. Yet surprisingly little is known about the private sector concession-holder for the project – the North West Concession Company – considering that this is a company to which the Russian government and road users will pay EUR 1.5 billion1 over the course of the 30- year contract. The Russian media has widely reported the involvement of French construction giant Vinci and the Russian group N-Trans. Mention has also been made of Arkady Rotenberg, reportedly a friend of Prime Minister Putin, but without specifying his exact involvement. This fact alone – that a public-private partnership is planned with a company whose constituent parts cannot be established from freely available public sources – rings clear alarm bells.