Business
maneuversRussia’s Timchenko not to build Crimea bridge due to reputation risks
Russian tycoon Gennady Timchenko said Tuesday that he has abandoned the idea to build a bridge across the Kerch Strait to connect Crimea with Russia’s Krasnodar Region due to reputation risks.
“This is a very hard project for us. I am not sure that we will cope with it. I do not want to run reputational risks. It is unclear what the cost will be because there is no ready project. Nobody understands the geological features there. And neither do we. That is why the story is too risky. I fear to undertake that and fail,” Timchenko said.
The government will choose a contractor to build the 19-kilometer bridge until January; the sum of the deal will amount to 228 billion rubles (over $4.2 billion).
Authorities will not appoint the Federal Agency for Special Construction (Spetsstroy) to conduct the works because of troubles that the agency has with its main project, the Vostochny Cosmodrome spaceport, business daily Vedomosti reported earlier in December.
This step made Timchenko’s Stroytransgaz and Mostotrest, controlled by Arkady and Boris Rotenberg, the main competitors for the state order.
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