Crocus Fashion Retail
The Crocus Group has signed a long-term investment agreement with the state highway management company Avtodor for the construction, maintenance and repair of the Central Ring Highway (TSKAD), to be built in the Moscow Oblast. Based on the results of an open tender for a contractor, the signed agreement is additional to the existing contract with Stroygazconsulting and maintains the terms and conditions of the previous agreement.
Earlier Crocus Group had signed an agreement with Stroygazconsulting for the transfer of rights and obligations for long-term investment for the first section of the TSKAD. It should be noted that the new contractor aims to realize the project at the scale, cost and conditions indicated in their bid. These actions are clearly aimed at fulfilling the order given March 30, 2013, by Russian Federation President V.V. Putin and the progress schedule for the construction of the TSKAD approved by Russian Federation Prime Minister D.A. Medvedev, which states that the TSKAD must enter into operation by 2018.