Turkish Conglomerate Ronesans Signs Four Major Deals in Russia

One of Turkey’s largest construction companies, Ronesans Holding, has signed four agreements for projects in Russia worth more than $2 billion, the Turkish holding announced over the weekend, according to Anadolu agency.

The conglomerate signed agreements for projects of the Amur Gas Processing Plant, Administrative Divisions of Moscow and Trams in St. Petersburg, while the Turkish company also signed a deal for cooperation with Russia’s largest bank, Sberbank, Ronesans said in a press release.

The $1.52 billion agreement with an Italian engineering and construction company Maire Tecnimont includes Russian energy giant Gazprom‘s Amur Gas Processing Plant’s building works, which will be completed by 2023.

“We undertook with this agreement Gazprom’s largest gas processing plant in Russia,” Alptekin Tizer, president of the Rönesans Heavy Industries, said, adding that the plant would have 42-billion-cubic-meter production capacity and it will process Yakutia and Irkutsk’s gas.

The plant will carry Russia’s gas to China and it will support Amur and East Siberia regions’ social, economic and industrial development.

Another agreement for building the Yuniy transfer station, Yujnaya subway station and Kolpino tramway project was signed. The investment cost is estimated at $321 million, the press release said.

The agreement with the Administrative Divisions of Moscow includes projects in medical services, offices and hotel complexes, and investment appeals.

Meanwhile, Sberbank and Rönesans Holding signed an agreement to cooperate in several areas such as investment banking and financing activities. The holding – established in 1993 – operates in over 20 countries, including Russia, Germany, Switzerland, Qatar, Finland, Belgium, Gabon, and Japan.