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Russian Construction Ministry unveils amount of investments in housing, utilities

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Russian Construction Ministry unveils amount of investments in housing, utilities

Over the course of the last 9 months, a total amount of investments in regard to 1217 concluded concession agreements in the field of the housing and utility sector reached 43,5 billion rubles ($670 million).


This is what the head of the Russian Ministry of Construction, Housing and Utilities, Mikhail Menn, said today at a teleconference with the regional departments. He reminded that at that moment, concession agreements remain the key tool to attract private investments for the purpose of upgrading a municipal facilities.

At the same time, the Minister named a number of Russian regions, where there is no concluded concession agreements and no investment projects being implemented. These are the Republic of Kalmykia, the Belgorod region, the Jewish autonomous region and Chukotka autonomous region.

We should remind you that from the 1st of January 2017, the law on concessions comes into effect. It will allow to transfer in concession the enterprises with debts and unregistered property.

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