The pilot public-private partnership project in Yamal has allowed to create 1,500 spots in pre-school educational institutions. In the last four years, six kindergartens and an elementary school were built and launched into operation in the district. According to the schedule stipulated by the PPP agreement, the last facility buyout payments were slated to be conducted in December 2018 and January 2019. By the sides’ mutual accord, they were moved to October 12, 2018. Owing to this fact, the region reduced the payment term and ensured the recalculation of the total facility buyout payment amount. Early repayment of its obligations allowed the district to save a total of 753 million rubles from the budget.
“The completion of the facility buyout process in Yamal is a landmark event not only for our Group, but for the entire Russian public-private partnership market. This is the first PPP project in Russia with a completed life cycle,” noted Chairman of the Board of Directors of VIS Group Igor Snegurov.