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Russian Ministry of Transport Igor Levitin Establishing Public-Private Partnerships in the Transport Sector Moscow, March 3-4 % of GDP $ billion Extra-Budget Investments BUDGET Current financing from all sources need Russian Transport Infrastructure Priorities 1. 2. 3. 4. 5. 6. 7. 8. Develop West-East and North-South international transport corridors Build high-speed main highways in European Russia, and complete general highway network in the Russian East Increase export port capacities in the Southern, North-Western and Far East Regions Establish the national hub airport network Improve internal waterways and hydro facility system Develop frontier passage points Implement major railway infrastructure projects related to the development of Siberian mineral deposits Develop high-speed railway connections SOCIALLY SIGNIFICANT PROJECTS High-speed Moscow – Saint-Petersburg highway Comprehensive reconstruction of Moscow hub airport, including the construction of the new Sheremetyevo-3 international passenger terminal Reconstruction of the Central Motor Highway in the Moscow Region Construction of a bypass highway connection providing new access to MKAD from the M-1 Belarus Highway Completion of the bridge across the Volga River near Volgograd Comprehensive reconstruction of the Tolmachevo airport PUBLIC-PRIVATE INVESTMENT PROJECTS 1. 2. 3. 4. 5. 6. High capital intensity and long payback period of infrastructure projects Underdeveloped domestic financial and capital markets incapable of providing “long” lending resources Lack of legal framework ensuring protection of long-term investments – in particular, concession legislation Short-term budget planning preventing a system of strictly guaranteed counterpart budget financing for long-term infrastructure projects throughout the whole construction/reconstruction period Non-existent practice of tax exemptions and preferences for investors participating in capital-intensive and long payback projects Underdeveloped land legislation (lack of explicit regulations for land reservation and taking, as well as land use regulations for transport lands and infrastructure-adjacent areas Establishing Legal Framework to Attract Private Investment in Highways Federal Law on Concession Agreements Federal Law on Toll Roads