VTB Infrastructure Investments and Qatar Investment Authority to acquire a 24.99% stake in Western High-Speed Diameter.

VTB Infrastructure Investments and Qatar Investment Authority agreed to acquire a 24.99% stake in Western High-Speed Diameter, a 46.6 km intra-city toll highway developed and operated under a public-private partnership agreement with the City of St. Petersburg. Financial terms were not disclosed. "The Western High-speed Diameter is a key example of efficient interaction between the State and the business in the PPP format, enabling the soonest and most efficient implementation of large-scale infrastructural projects that immediately improve living standards of hundreds of thousands of the City's residents. We welcome the decision by the QIA to enter the project and regard the attention by the renowned financial institution as recognition of the quality of our work and evidence of good development prospects of the project," Oleg Pankratov, VTB Infrastructure Investments CEO.