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In late November, The VEGAS LEX law firm and First Infrastructure Company InfraONE began performing comprehensive consultancy and support services for the concession grantor at the financial close phase of the 12-plus ton project*, one of the largest investment projects in Russia, under which fees will be introduced for heavy vehicles to compensate for the damage they do to the surface of federal roads. Its financial close involves signing concession documents required for the project financing to be extended.

As we reported earlier, the 12-plus ton project was launched in September 2014 following a concession agreement between the Russian Federation and RT Invest Transport Systems** (concession operator). The operator is to ensure a comprehensive implementation of the project over the course of 13 years, including design, creation, launch, operation and modernization of the planned toll system. The Rosavtodor*** agency will act as the concession grantor on behalf of the Russian Federation.

The new system is to go on stream in November 2015. According to estimates, federal income from the project will amount to 1 trillion rubles over the course of the project.

The 12-plus ton project will help build and improve roads and related facilities. One heavy vehicle does as much damage to the road surface as 20,000 cars do (or up to 90,000 cars according to various estimates). Onboard meters will be distributed to vehicle owners under an agreement.

For more information on the project, please contact Marina Zhegulina of VEGAS LEX press office at +7 (495) 933 0800, pr@vegaslex.ru.

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* The Russian project to build a toll system for heavy vehicles is one of the largest in the world. The planned system is unique in terms of the length of the roads it will cover and the number of users it will serve. 

** In accordance with the Russian Government’s Executive Order No. 1662-r of August 29, 2014.

*** The concession grantor (the Federal Road Agency, Rosavtodor) is represented by the Advisers’ Group - a consortium of consultants comprised of the VEGAS LEX law firm (organizational and legal issues), the InfraONE First Infrastructure Company (investment and financial issues), the GLONASS nonprofit partnership (technical consultancy) and Navigator Group (technical supervisor).