Mostotrest becomes controlling shareholder of LLC INZHTRANSSTROY CORPORATION
Open Joint Stock Company Mostotrest («Mostotrest»), a leading transport infrastructure construction and development company in Russia, announces today that it has acquired an additional 1% of the share capital of LLC Inzhtransstroy Corporation, becoming the controlling shareholder with 51% of the share capital of the company. Mostotrest previously announced its acquisition of 50% of the company’s share capital on 1 June 2010.
LLC Inzhtransstroy Corporation, one of the largest design and engineering infrastructure development companies in Russia, is a general contractor in the development and reconstruction of roads, railways, airports, sea and river hydrotechnical structures and bridges. Generating revenues of RUR 49.9 billion (approx US$1.6 billion) in 2009 in accordance with Russian Accounting Standards, the company’s current portfolio comprises a number of Russia’s key strategic development projects including airport reconstruction in Moscow (Sheremetyevo), Sochi, Vladivostok, the development of Sochi’s Rosa Khutor ski resort and the construction of the hydrotechnical facilities at the Ust Luga sea port near St Petersburg.
Open Joint Stock Company Mostotrest is a leading transport infrastructure construction company and the largest bridge construction company in Russia. It operates in the development and reconstruction of automobile, railroad and city bridges and other engineering works. Mostotrest has built over 7,500 kilometers of bridges, foot bridges, tunnels and complex transport interchanges and is currently working on many of the most important new infrastructure projects in Russia, including the Sochi Winter Olympics 2014, and the Fourth Moscow ringroad.