Russia has come into its own as an infrastructure market during the second quarter of 2010, rising to the top of InfrastructureInvestor Assets’ country league table by value of deals.
With $11.9 billion of deals closed, Russia represented about 22 percent of a total of $53.8 billion of deals closed around the world during the second quarter of the year. It was helped on its way to the top in no small part by the May closing of the massive $7.3 billion Nord Stream gas pipeline project.
But a number of closings in the transportation sector – including two highway public-private partnerships (PPP) and the country’s first airport PPP, St. Petersburg’s Pulkovo airport – helped cement its place at the top of the list, finally making good on a market that has shown lots of promise but taken its time to deliver.
Second in the table is the US, with $8.9 billion of deals closed during the second quarter of 2010. Global Infrastructure Partners’ $3 billion Ruby gas pipeline project and Cintra’s $2.7 billion LBJ highway, in Texas, comprised over half of that amount. Spain, the UK and Portugal occupy the remaining top five positions in the table.
In regional terms, Europe recorded the most deal activity in the second quarter of 2010 with over $30 billion of deals closed, more than 55 percent of all deals closed across the world during this time period. North America follows Europe with the Middle East and Africa, Latin America and the Asia Pacific regions next in terms of deal activity.