From Rublyovka to Cyprus

What's the reverse side of the toll highway?
Origin source
Ziyad Manasir

Born: in 1965 in Amman, Jordan
Education: Institute of Oil and Chemistry. M. Azizbayov (engineer oil and gas industry), Baku
Professional experience:
since 1990 - specialist of the department of external relations of the Union in COOP
1992 - The founder of the company "MB" and "Baltika"
in 1994 he bought house-building plant in Tyumen
He created the company "Stroygazkonsalting" in 1996
Marital status: Married, five children

From 1 January 2014, the toll road "Northern Bypass Odintsovo", which has been dubbed the "thieves Rublev travel" for its proximity to the governmental track, collect money for "pass-through" fare: 100 rubles. day and 50 rubles. night for passenger car, truck day - 200 rubles, with the trailer -. 320 rubles.

November 26, 2013 on the road linking Moscow and 33 km of motorway M1 "Belarus" swept Prime Minister Dmitry Medvedev and Moscow Mayor Sergei Sobyanin, and thus bypass was officially opened. The new road will offload Minsk, Mozhaisk and Rublevskoe 30-40%. But residents of Odintsovo districtJon is not very happy: the sacrifice brought Podushkinskoe wood (cut down 148 hectares), no built-interchange exit bypassing of Trekhgorka, with 40 000 inhabitants stand in long hours of traffic jams, and of the price for the mileage of 18.5 km long - a record high for Russia. So, on M4 "Don" fee is 30 rubles. for 23 km and then 150 rubles. for 18.5 km. And the rate will increase, depending on inflation. "Here, the rate established private company, and on the M4 - CC" Avtodor "- explain the difference in the" Avtodor "However, for residents who appreciate the time Rublevki 150 rubles to one side -.. Nothing.
But this project is significant in several respects.

Firstly, revenue from the operation of bypass, laid on Russian taxpayers' money is going to the Cyprus offshore Farncombe Limited. The funds invested by the state, will not even be returned to him: in 30 years will pass the road itself.

Secondly, we can say that thanks to this project, a well-known Russian businessman of Jordanian origin Ziyad Manasir, before narrowly specializing in construction contracts, "Gazprom", enters the market of civil and road Strawment.

It created a concession

"Northern Bypass Odintsovo", or "new exit on the Moscow Ring Road with the federal highway M1" Belarus "Moscow - Minsk", has built a consortium of "main road", created by the Federal Road Agency and JSC "Main Road" in 2009.

The consortium includes: CJSC "UK" Leader ", LLC" Stroygazkonsalting "Austrian Alpine Bau, Spanish FCC Construccion SA, the Portuguese Brisa Auto-Estradas de Portugal of the Criminal Code." Leader "manages assets of 420 billion rubles, of which 300 falls. . on Gazfond, "Gazprom" pension fund "Leader" is controlled by the insurance company "SOGAZ", in which the shareholders of the "friends" of President Vladimir Putin: 51% in LLC "IR" Abros "Yuri Kovalchuk, by 12.47% - from OOO" Kordeks "Gennady Timchenko and OOO" Acceptance "Michael Shelomova, still 19.04% owned by Gazprombank.

"Stroygazkonsalting" - the second largest "Gazprom" contractor specializing in the sector of oil and gas fields. The company was founded in 1996, Jordanian Ziad Manasira. He arrived in the USSRon a student exchange program, finished the Petroleum Institute in Baku, then met with many influential oil companies, has established a business on sale of oil products, and finally got contracts from "Gazprom". Until now Manasir engaged in construction activities mainly within the fuel and energy complex. Thus, from 2007 to 2009 "Stroygazkonsalting" acquired nine related to "Gazprom" of construction companies, in 2009 he won the tender of "Transneft" for the construction of 415 km of the pipeline as part of the ESPO-2. However, work on "Gazprom" increasingly difficult: the competition "Stroygazkonsalting" on Contracts gas monopoly constitute "Stroygazmontazh" brothers Arkady and Boris Rotenberg and "Stroytransgaz" Gennady Timchenko, that is, structures belonging to people close to Vladimir Putin. They are gradually replacing Manasira. In October 2013, Ziyad Manasir, according to rumors, even sent a message to the executive secretary of the Presidential Commission on fuel and energy sector, Igor Sechin, complaining that "Gazprom" puts projects entering and paying for it. According to media reports, after this letter competitors received the orders receiveddlezhaschih Mr. Manasir.

But in the Odintsovo project contractor "Gazprom" and "Transneft" has entered a new market for it. In this project, "Stroygazkonsalting" established with the Austrian Alpine Bau General Contractor, Inc. "Canon". FCC Construccion SA - the parent company Alpine Bau, the largest construction conglomerate in Spain, 53.9% in the Spanish billionaire Esther Koplovits. Brisa Highways of Portugal controls 14 roads in Portugal, the USA and the Netherlands (total 1,500 km), the largest block of shares (30%) of the Portuguese José de Mello Group.

Roles of participants are distributed as follows: "Leader" attracts money "Stroygazkonsalting" together with the Alpine Bau building, Brisa Auto-Estradas de Portugal is divided into road management experience. All the key participants in the consortium, one way or another, are working with the gas monopoly. The role of the FCC main participant of the consortium in its reports and corporate documents do not disclose. It is worth noting that the FCC, in addition to the construction of roads and bridges, developing gas and oil fields. In 2007, at the Alpine Bau and FCC Construccion SA had plans to participate in the construction of other toll road, the Moscow - St. Petersburg. ButIt did not happen: the main section of the toll road built North-West Concession Company, 50% of which is from the French Vinci is, another 50% - in structures Arkady Rotenberg, a former Putin's sparring partner.

The concession agreement concluded for 30 years, until July 2039 In November it extended for another year and a half: the project could not start on time because of the friction with the owners of land plots. Thus, the dispute with the developer Ltd. "Vanguard Plus" because of the amount of compensation for land lasted two years and ended only in 2011. As a result, Ltd. "Vanguard Plus" of 43 383 sq. m in the Odintsovo district (village Kryukovo) received 124.6 million rubles.

After 2041 or the agreement will be extended, or give way to the state.

The question "To" as in the draft appeared Brisa Auto-Estradas de Portugal, Director of "main road" Michael Plakhov replied that "the participation of the foreign partner with extensive experience in road management was demanding the Ministry of Transport as the organizer of the competition. At the time of the organization of the tender in Russia did not have toll roads. Brisa Auto-Estradas de Portugal was interestedin partnership experienced operator and concessionaire and entered into a consortium with a share of 10% in the company, which owns the road. The same situation with the assistance of Alpine Bau, which is the largest and most experienced builder of toll roads in Europe "Co" reported that Alpine Bau appeared in the project on the initiative of CJSC "Leader". ". The" Stroygazkonsaltige "As you know," Leader "is also closely linked with "Gazprom" (via Gazprombank structure, "SOGAZ" and Gazfonda), so we can say that in the Odintsovo draft busy "friends" of "Gazprom". as the "Ko", Alpine Bau did not build bypassing Odintsovo, and was just . consultant in the project in June, an Austrian member of the consortium, the second largest infrastructure company in Austria went bankrupt (the amount of debt - about 2.6 billion euros), however, representative of Alpine Bau in Russian Denis Ditte adviser was an advisor of the general contractor JSC "Canon" and the concessionaire of ". The main road".

Few people are aware of the new route that owns OAO "main road" Cyprus offshore Farncombe Limited. 61% of the offshore company owned by Russian companies: 50% in. JSC "Investment Company" Leader "(part of the UK" Leader "), 10% in" Stroygazkonsaltinga "and 1% from Gazprombank The remaining 39% of foreign participants in the consortium: by 14.5% in the Alpine Bau and FCC Construccion SA, 10% in Brisa Highways of Portugal.

In September 2008, when carried out a tender for construction work around Odintsovo, Federal Antimonopoly Service has challenged the results, since it involved only one company. But "Rosavtodor" contest declared valid and in October 2008 announced the decision to entrust the implementation of the project consortium.

How to finance road

The cost of the route was 32.4 billion rubles., of which 11 billion rubles. Russia invested Investment Fund, and the remaining 21.4 billion rubles. - JSC "main road". 11 billion rubles. - Target-refundable grant. More than 18.1 billion rubles. JSC "Main Road" attracted by placement of seven issues of bonds (the latter moved to 2014). These bonds were the first infrastructure bonds in the Russian Federation, and such securities are provided by the Ministry of Finance guarantee. This means that the state will pay the full payment of the principal amount of debt, etc.interest payments on it to terminate the concession agreement and in case of default of the concessionaire. The obligations on the bonds will be fulfilled even in a situation of unplanned adverse changes in the project and its implementation, including the conditions of a significant deterioration in the financial performance of the project.

Who bought the liabilities of the company, which has no corporate history, was not disclosed. Cbonds site among the largest holders of these securities only calls Deutsche UFG Capital Management. "Deutsche Bank", controlled the Deutsche UFG Capital Management at the time of the transaction (the Criminal Code in November was purchased by IR "Aton"), he was one of the project consultants.

It can be assumed that the bonds "main road" invested commercial entities affiliated with members of the consortium. Above all, this pension fund "Gazfond" under the management of CJSC "Leader", the organizer of the securities issue Gazprombank, the company Ziyad Manasira. In addition, as previously reported, these shares bought VEB, investing money in them pensionerov- "silent types". On bonds "main road" providedSubscribe to spend 10 billion rubles. pension money. The financial scheme to get away from the market, but with the state - minfinovskimi - guarantees. The rating agency AK & M assigned to these securities high rating of A with a positive outlook. "One of the key factors supporting the high rating is the actual presence of state guarantees", - noted in his report, analysts of the agency Alexander Chumachenko.

More than 25.4 billion rubles. cost of the contractor, Inc. "Canon". 89% at the ZAO "Stroygazkonsaltinga", and the remaining 11% in Alpine Bau. Accordingly, most of the money from laying bypass Odintsov - more than 22.2 billion rubles. - Earned "Stroygazkonsalting" Manasira Ziyad, who had not built any federal highway, but built all the roads leading to Gazprom's fields, for example, sections of highway "Kolyma" COP road "Vorkuta" - KS "Yarynskaya". Bypass Odintsovo provided Ziyad Manasir new possibilities: the company now completes an interchange on the M1 and can become a winner in the consortium for the construction of a bridge over the Dku Lena, the most expensive in Russia.

Half of the volume of work on the laying of the upper layers of the road, "clothing" has fulfilled the subcontractor - OOO "Autobahn", founded by the German Wirtgen and several Russian road construction company. "Autobahn" was built in 2012 and the first in our country for the race track, "Formula 1".

When the dividend will go to offshore

On the question of "Ko", how it was that way with the money of the state and pensioners has built a company whose owner - the Cyprus offshore, in the CC "Avtodor" have not responded. But the leader said, "the Federal Road Agency" Roman Starovoit: "We at its facilities do not allow this." Michael Plakhov told "Ko", that "all the investors of the project, including three foreign companies prefer to register a project company under English law, the Russian law" On Joint Stock Companies "does not protect their rights, the choice fell on Cyprus. Cyprus is preferable also because that the visa-free entry "is provided here for the Russians. Recall that in the offshore Farncombe Limited dominant share of Russians and 61%, and foreigners played the role of conconsultants, rather than investors, especially since a key foreign participant of the consortium, the Austrian Alpine Bau, at the time of the completion of the bypass Odintsovo was already bankrupt. The role of its parent company, the Spanish FCC, do not understand. And for example, the German-Russian joint venture "Autobahn" to build bypass, share in the offshore has not received. Therefore Farncombe offshore is likely to need was not only and not so much foreigners as the Russian shareholders Farncombe Limited is, that, even as personal friends of Vladimir Putin, as it turns out, not sure about the effect of the laws of the Russian Federation.

President Putin said in December the Federal Assembly promised that the offshore structure of Russian companies will be deprived of state support: they can not get loans to VEB and state contracts. However, the November decree of the Russian government managed to provide state aid for "main road". In the first two and a half years, until July 2017, when the road will not bring to their owners sufficient revenues, SC "Avtodor" will pay the money of "main road". That is, if the consortium does not acan get at this time of the planned minimum revenue, "Avtodor" he surcharge. We are talking about at least $ 25 million a year: in 2014 revenues to be about 780 million rubles, in 2015 - to 980 million rubles, in 2016 - to 1.1 billion rubles in the first six months... 2017 - up to 670 billion rubles. If we remember that the consortium bonds also have state guarantees, road builders business is insured from all sides. But at the same fares established private company "main road", not the state, represented by CC "Avtodor", and prices are very high for Russia.

In connection with this financial scheme should be added that the laws by which this works road concession, designed not for random people project. The law on toll roads, wrote the former Head of the Federal Department of Road Transport Ministry of the Russian Federation Mikhail Pokataev; today it is - among the leaders of "main road". Yuri Sizov, Deputy General Director of the Criminal Code "Leader", the former chairman of the Federal Securities Commission regional government in Moscow, developed a scheme of public-private partnership.

To protect the interests ofto bondholders provided one measure: the money earned from the operation of road concessionaires, will be displayed in the offshore after the bonds will be repaid. "According to the bond issue terms of" main road ", the sole owner of the issuer, Cyprus offshore Farncombe Limited will receive dividends only after it will make coupon payments and pay off all the bonds of" main road ", - says Yuri Tulinov of Gazprombank really well. in the corporate documents of no provision of the company's dividend policy. Repayment of the bonds will take place in 2028 by the end of the term of the bonds (2028) in the reserve account of "main road", taking into account the timely implementation of all the debt payments must accumulate 18.4 billion rub., predict the company. Net income for the 30 years is, according to its own estimates, 138 billion rubles. this is the money concessionaires and want to hide from the tax in the Cyprus offshore. As you know, Cyprus income tax and dividends is significantly less than in Russia. on the island of Aphrodite, the income tax for legal entities in 2013 is 12.5%, and PF - 20% of the dividends tax in Cyprus - up to 3%, in Russia - 15%.

"Blatnoi Rublevskiy fare"

One kilometer detour cost to investors of the project 1.837 billion rubles. This is not an absolute record in road construction: Sochi kilometer road from "Alpika Service" and understudy Spa prospect drew more than 5 billion rubles. But still expensive. This is partly explained by the large number of bridges and interchanges. Bridges with overpasses - 14 interchanges - 6. The route passed through the industrial area and residential areas. Number of bands here ranges from 4 to 8.

In addition, the road "clothes" made by German standards with a safety factor of 2 against the usual 1.3 to Russia. The total thickness of the asphalt layers -. Both on the German Autobahn, 30 cm and in two upper layers of the road "clothing" for the first time in Russia applied polymer modified binders, which increases the resistance to rutting of the road under the influence of studded tires. This allows to safely travel at speeds of 120 km per hour, although the permissible speed value is set in until 90 km per hour.

"Leaders of the main Yinginvestors of the Criminal Code "Leader" has set us the task - to make the road better than the German Autobahn. fabric evenness evaluated by the European method with the most modern equipment and were rated "excellent", - Mikhail Pokataev pleased, first deputy. director of production of JSC "main road".

Ordinary residents of Odintsovo district has been dubbed the tour "thieves Rublev travel." "I Went for Minke regularly, now, apparently, can not price of 8.1 rubles per 1 km above us just laughed 150 rubles for 18 km: not much there - wrote on the forum motorist - Rublevskie made its way..!..?. , so they do not interfere with the servants - all simply ... Sadly all this. "

So is the question the effectiveness of the most runs in Moscow, all three roads that it can unload - Minsk, Mozhaisk and Rublevskoe, rest on the Moscow Ring Road. In addition, some localities do not have trips to the superfast highway. Concessionaire Company "UK" Leader "against the construction of most of the conventions: the company is afraid that they will lower the speed on the highway And the people, and the most active residents Trekhgorka require to build their question item..ur very serious. Every day about 40 000 people are here in traffic to go to Moscow. The residents of Odintsovo district even demanded the resignation of the head of area Alexander Gladyshev of the destruction of the forest and constructed interchange at Trekhgorka - Gladyshev eventually resigned on 23 December.

"This isolation is not part of our route" Northern Bypass Odintsovo, - says Mikhail Pokataev - but we are not opposed to its construction "At first it promised to build the company." SU-155 ", which in Trekhgorka is a large residential complex" New Trekhgorka . "Then the idea to simplify the isolation of left and right turn Congresses But a year ago, the SU-155 refused to do them last year was difficult for the holding:.. he tried to bankrupt the lenders then correct the situation took FGC." Leader ", Vladimir Voronin, as it has a number of have a site and a residential project of 300 000 sq. m, which it will start to build, possibly as early as this year. Rosavtodor technical conditions of administration Odintsovo district received. Congresses, according to Michael Pokataeva, worth 400-500 million rubles. But as long as they We never built.

FGC "Leader "(it has nothing to do with his" namesake "of the Criminal Code" Leader ") insists on congresses and in the village Romashkovo area, where it is building a low-rise" Up Quarter Western Kuntsevo ". Near Romashkovo built the bridge, underneath passes Speedway" Odintsovo Bypass ", but this bridge built to nowhere, no convention of him." They were not even provided for the project. Together with "Ronde" at their own expense agreed predesign adjacency diagram. For more than half a year waiting for the technical conditions for the further design and construction ", - says commercial director of FGC" Leader "Gregory Altukhov.

But the Criminal Code "Leader" does not want to Romashkovo, new conventions. Sergei Kerber, Head of the Directorate of investment projects and the CC program "Leader", says that "if we build congresses every 50 m, high-speed track turn to Ring Road and the speed drops to 40 km. It seems that almost all potential users of the road will be against this. " However, if the "Avtodor" agreed a pre-project documentation for congresses near Romashkovo, Then most likely, the issue will be resolved in favor of the villagers. After the implementation of the announced projects will live about 40 000 people here. If so, perhaps, Category track really drop, and the comfort of travel, too, but will be more drivers are forced to pay 150 rubles., But would not stand in a traffic jam.

What is the UK "Leader"

Russia's largest operating company on the amount of assets under management - 439.039 billion rubles on 30.09.2013. Founded in 1993, the "leader" is controlled by the insurance company "SOGAZ", in which the shareholders of the "friends" of President Vladimir Putin: 51% in LLC "IR" Abros "Yuri Kovalchuk, by 12.47% - from OOO" Kordeks "Gennady Timchenko Ltd. and "Acceptance" Michael Shelomova, still 19.04% owned by Gazprombank Among the other shareholders of "Leader." - "Gazprom", "Vnesheconombank" pension fund "Gazfond" and OAO "Gazprombank".