Capital Legal Services provides legal support for concession agreement on construction of bridge over Chusovaya river
Capital Legal Services provides comprehensive legal support for a concession agreement on construction and operation of a bridge over the Chusovaya river, signed on June 21, 2017 in Perm.
On June 21, 2017, government of Perm region and the Perm Concession Company, a part of the VTB group, signed an agreement on construction and operation of a bridge over the Chusovaya river in Perm region.
In this project, associates of Capital Legal Services provided full legal support for the concessionaire – Perm Concession Company (PCC), a part of the VTB group, in the course of negotiations and signing of the concession agreement.
The agreement is signed for a term of 15 years. The overall volume of investments in the project will comprise 14 billion rubles, part of which will be provided by private investments from the VTB group. Under the agreement, the concessionaire undertakes to build a new bridge, repair the existing one, reconstruct the access roads to the bridge and create a modern system for managing road traffic.
Pavel Karpunin, Partner, Head of the PPP practice: “Signing the concession agreement is a key event that allows transitioning from tender and negotiation procedures as such to implementing the project and resolving new tasks. It is very important that irrespective of the many issues we see today, the concession mechanism is working, since a concession is one of the most effective ways to attract private investments into infrastructure.”
Associates of Capital Legal Services will continue to render support to PCC during the subsequent stages as well, the most proximate ones being the signing of a general contractor agreement and the financial closing.
The PPP and Project Finance practice is traditionally among the best practices noted by international and Russian rating agencies Chambers & Partners, Legal 500, Pravo – 300 and the Kommersant rating. The head of the practice Pavel Karpunin according to Chambers & Partners is among the top ten specialists in PPP and project finance in Russia.