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$900M Planned for Moscow Transport Hubs

The Russian Direct Investment Fund, or RDIF, is ready to spend 34 billion rubles ($900 million) to help Russian Railways build nine transport hubs in Moscow,  a news report said.

Transport hubs are defined as any zone where passengers move between two modes of transport, including train stations, bus stops and parking lots.

Although negotiations between Russian Railways and RDIF are ongoing, Russian Railways has already secured major investments from domestic and international companies, Kommersant reported Friday.

Gaztechleasing, controlled by billionaire Ziyad Manasir's Stroigazconsulting, will invest 180 billion rubles in nine locations, 67.5 billion rubles of which will go to the Vykhino, Dmitrovskaya and Perovo hubs. Sberbank and Bank of Moscow have promised 100 billion rubles each. South Korean firm TIH D&D will invest 80 billion rubles and Turkish Ulusoy Travel Transport will invest 5.5 billion rubles. Canada's Trinity Development Group has agreed to invest 50 billion rubles, spread among three hubs in Moscow and one in Perm.

Investors' funds will go toward building the transport hubs' profit-generating elements, such as waiting rooms, parking, and other commercial zones. Developers can expect a 20 to 25 percent annual return on investment per year, said Mikhail Yakubov, a consultant at Jones Lang LaSalle.

RV Metro, a subsidiary of Russian Railways, will be responsible for construction of 58 hubs. Russian Railways is seeking investment for 45 of them, which are expected to cost a total of 600 billion rubles. 255 transport hubs are slated for construction by 2020, with Moscow City Hall responsible for 197 of these.

The Russian government founded the RDIF in 2011 to serve as a sovereign partner for foreign investors. It intends to invest $10 billion by 2017. 

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