Limak Group (Turkey) acquired a 49% stake in the capital of LLC Bashkir Concession Company (BCC), a special purpose company established for the execution of the concession project to finance, construct and operate a toll road in the Republic of Bashkortostan, a new exit from the city of Ufa to the federal highway M-5 "Ural" (the “Eastern Exit”).
Also BCC and LLC Limakmarashavtodorogi, a company of the Limak Group, signed an engineering procurement and construction contract for the “Eastern Exit” project.
In line with the terms of the EPC contract, the contractor will now begin developing the project design documentation. Full scale construction will commence following financial close and approval of the design documentation by Glavgosexpertiza. Financial closure is expected to be reached in the next 6 months.
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