OREANDA-NEWS  On 12 September  was announced, that Basic Element completed the transaction to acquire a controlling stake in the Open Joint-Stock Company Research Institute of Transport Construction (RITC). Basic Element's Construction Sector has thus acquired one of the largest research centres for the scientific support, design and construction of transport objects and facilities in Eastern Europe.

The development of modern technologies in the construction industry is one of the priorities at Basic Element, which in 2007 bought shares in the European construction companies Strabag and Hochtief as part of its drive to bring modern European technology to Russia.

Recently Basic Element concluded negotiations on the acquisition of a controlling stake in the Research Institute of Transport Construction, the leading institution in the field of transport construction.

During its history spanning more than seven decades, the Research Institute has established a normative framework and directly participated in the design and construction of major transport infrastructure facilities in the former Soviet Union and Russia, including the railway line between Tyumen - Surgut - Urengoy and the Baikal-Amur Main Line, the Moscow Ring Road, Moscow's Third Transport Ring and dozens of other major objects. The Research Institute has research and testing centres and specialised laboratories in all areas of transport construction and employs 560 staff, including 19 doctors of science and 109 candidates of science.

"The experience and knowledge of the experts at the Research Institute of Transport Construction will enable the companies owned by Basic Element and other Russian companies to find the best technical solutions when designing complex transportation facilities. We also have great expectations for programmes to improve the skills and qualifications of the engineers at our holding's construction companies by encouraging them to undertake postgraduate and doctoral studies at the Research Institute," said Gulzhan Moldazhanova, Chief Executive Officer of Basic Element.

"I am confident that our work within the structure of one of Russia's largest industrial holding companies will enable us to strengthen the Research Institute's material base. Working as part of Basic Element means we will continue to make developments and breakthroughs of the highest quality and safety, not only for Basic Element, but also for other Russian and foreign companies," says Alexander Tsernant, Deputy General Director for Science, Doctor of Technical Sciences.

Yakov Itskov has been appointed Chairman of the Board of Directors at the Research Institute of Transport Construction.
 
The Research Institute of Transport Construction will continue its support on ongoing projects in Russia and abroad.