The Republic of Bashkortostan is planning to list a toll road connecting Ufa with the M-5 Ural federal highway (Eastern Exit) among high-priority investment projects. The project is implemented by VTB Infrastructure Holding. The concessionaire will therefore be eligible for profit tax breaks, Prime Minister of the Republic of Bashkortostan Government Andrei Nazarov said during his visit to the construction site together with VTB Senior Vice President Yury Molchanov.
“We are planning to list the route among high-priority projects, and we will prepare everything in the near future. Most importantly, the people of Bashkortostan will benefit from this, so we must open the road as soon as possible. We can see that we can work faster than planned, as today’s visit confirmed,” Andrei Nazarov said.
According to the Prime Minister, initiatives listed as high-priority investment projects can be implemented more quickly, and the concessionaire can also obtain profit tax breaks.
“Given the rising cost of construction materials, we want to support the contractors, so that they can complete the project earlier than planned without jeopardising the quality. This will motivate our partners,” the Prime Minister added.
He also added that the current visit aimed to clarify unresolved issues.
“It is no coincidence that the region is a leader in investment climate development. This was noted at all levels. This is a major public-private partnership project, and its successful implementation underscores this once again,” said VTB Senior Vice President Yury Molchanov.
Yury Molchanov added that the concessionaire was counting on the help from the Republic’s Government procuring two million cubic metres of a sand and gravel mixture.
In turn, Asabali Zakavov, Director-General of the Bashkir Concession Company, noted that compliance with project implementation deadlines was a high-priority task.
“Judging by the amount of the work that has been completed, we can see that we are picking up momentum. We are set to fulfil plans worth 12 billion roubles before the end of the year, and we are meeting construction targets,” Asabali Zakavov said.