Saudi company Ayar International Investments and LLC RDIF Investment Management 15, a Russian company based in Moscow, have acquired a share of the capital stock of the Transport Concession Company, Interfax reports on Monday.
The Saudi company received 13.04% of the company’s capital stock while the entity of the RDIF (The Russian Direct Investment Fund) — 10.22%. The share of Lider, a Russian investment company, has reduced from 60% to 35%.
LLC Transport Concession Company was created in January 2013. In may 2016, the St. Petersburg authorities signed an agreement with the company on the creation and operation of a tram network with the length of 14 km in Krasnogvardeysky district. The cost of works, including the purchase of rolling stock and operation of the tram line during 30 years, amounts to 33.7 billion rubles ($585 million).