06 May 2004 02:40
Government offers control over roads, adjoining land to investors
MOSCOW. May 6 (Interfax) - Investors funding road construction will own the roads and adjoining strips of land,
Minister of Transport and Communications Igor Levitin told the press after a Thursday meeting of the Cabinet.
"We will offer investors to go beyond the 15-meter limit for roads and develop their business," he
said.
That will help to repay the construction expenses quicker and increase the cost of land along the roads, the minister
said.
Governmental guarantees for investors are important in such projects, Levitin said. "We could make the
proportion of private and governmental funds 50/50 or something else, but the road will be under the investor's
control until the investments are repaid," he said.
It is hard to find investors for long-term road projects because of annual budget corrections, he said.
However, investors in road construction will not enjoy any tax benefits, the minister added. [RU EUROPE EEU EMRG CON
POL] te aw <>
[Interfax] |
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