Vnesheconombank Signs Memorandum of Mutual Understanding with Agro-Chemical Corporation Azot and Chancellor House Holdings (Pty) LTD (the Republic of South Africa)
Press Release, 19.03.2007
Today, on March 19, in the course of Russian Prime Minister Mikhail Fradkov’s visit to the Republic of South Africa, Agro-Chemical Corporation Azot, Chancellor House Holdings (Pty) LTD (the Republic of South Africa) and Vnesheconombank signed a Memorandum of Mutual Understanding.
The Memorandum was signed by Agro-Chemical Corporation Azot President Mikhail Golubev, Chancellor House Holdings (Pty) LTD Chairman Taole Mokoena and Vnesheconombank First Deputy Chairman Nikolai Kosov.
The Memorandum was signed to carry out the project aimed at building a Russian – South African joint venture to manufacture mineral fertilizers.
Under the Memorandum Vnesheconombank will provide a wide range of financial and consulting services to the parties to the Memorandum and will assist in attracting financial resources to carry out joint projects. Payments between the parties are to be made through Vnesheconombank.
The signing of the Memorandum and establishing a joint venture would be a significant step in promoting bilateral cooperation between the Russian Federation and African countries and would be highly instrumental in expanding Russian-South African trade and economic ties.
Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 208-46-93. Fax: +7 (495) 975-21-34
E-mail: press@veb.ru
Press Release, 14.03.2007
Today, on March 14, in the course of Russian President Vladimir Putin’s visit to Italy, Vnesheconombank and Mediobanca signed a credit agreement worth 122 million euros using SACE’s insurance guarantee.
The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and by Mediobanca Deputy General Director Massimo Di Carlo.
Under the Agreement credit resources would be used to finance a major infrastructural project aimed at constructing Ramenskoe logistics terminal in the Moscow region.
This project is to be viewed in the context of VEB’s participation in carrying out major infrastructural projects, which is one of the main tasks undertaken by a National Development Bank to be established on VEB’s basis.
The Ramenskoe logistics center is planned to be a main hub to transport cargoes both through the European part of Russia and to the Urals, Siberia and Kazakhstan. A range of cargoes is to include household appliances, food, flower, agricultural and other Russian-made products.
The Ramenskoe logistics terminal will incorporate a Flower Exchange being modeled on the Dutch Flower Auction that has no analogues in Russia.
Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 208-46-93. Fax: +7 (495) 975-21-34
E-mail: press@veb.ru