On raising by Vnesheconombank of credit resources within the framework of a project implemented by the Bryansk meat company ltd.

16 august 2011 года
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State corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)”, HSBC Bank Plc (HSBC) and Australia’s Export Finance and Insurance Corporation signed an individual loan agreement to finance Stage I of a project for construction of a complex to raise highly productive beef cattle stock and primarily process meat in the Bryansk Region. The project is implemented by the Bryansk Meat Company (Ltd.)

In compliance with the document signed, HSBC is to provide Vnesheconombank with credit resources in the amount of USD 39.7 million to finance in 2011 contracts between the Bryansk Meat Company (Ltd.) with a number of Australian beef cattle exporters under the cover offered by EFIC (9.5-year tenor).

Furthermore, Vnesheconombank and HSBC signed an individual loan agreement on raising a commercial loan within the project in the amount of USD 49.6 million (7-year tenor) to finance local expenses in 2011.

On behalf of Vnesheconombank, the documents were signed by Petr Fradkov, Member of the Board – Deputy Chairman of Vnesheconombank, on behalf of HSBC – by Peter Luketa, Global Head of Export Credit and Global Specialized Finance HSBC Bank Plc, London, on the part of EFIC – by Colin George, Director, Trade, Commodity & Agribusiness Finance.

HSBC Bank Plc (HSBC) is part of the HSBC Group, which is a holding company comprising banks, insurance and investment structures. In Great Britain, HSBC ranks 2nd in terms of the total assets. The HSBC Group has an extensive network of branches and subsidiaries abroad, including OOO HSBC Bank (RR). In Russia, HSBC offers a wide range of corporate and investment banking products to companies and financial institutions.

Export Finance and Insurance Corporation (EFIC) is Australia’s  export credit agency, whose major goal is to  support  Australian businesses with financial solutions to overcome financial barriers they may experience when growing their business in global markets.

 

Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

 

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A New Composition of VEB-Engineering LLC Board of Directors Elected

8 august 2011 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and Canadian Engineering Company SNC-Lavalin elected a new composition and Director General of VEB-Engineering LLC Board of Directors.

The new composition of VEB Engineering LLC Board of Directors includes two representatives from Vnesheconombank and SNC-Lavalin: Management Board Member, Vnesheconombank Deputy Chairman Sergei Vasiliev, Dmitry Sheibe, SNC-Lavalin International Inc. Senior Vice President Jury Kotlyarov, SNC-Lavalin International Inc. Business Development Vice President John Young. Mikhail Rogachev was elected as independent Board Director. He is a member of the Association of Independent Directors and the Director of the Russian Technological Development Fund.

Management Board Member, Vnesheconombank Deputy Chairman Sergei Vasiliev was elected as Chairman of VEB Engineering LLC Board of Directors.

Dmitry Sheibe was elected as Director General of VEB-Engineering LLC. Previously, he was involved in managing large-scale projects in the fuel and energy and other industrial sectors at Vnesheconombank, as the Deputy Governor of the Irkutsk region as well as in the largest Russian companies.

VEB-Engineering LLC is a specialized engineering company established in 2010 for engineering support for and monitoring of large-scale investment projects funded by Vnesheconombank. The company is responsible for providing engineering support for projects including technical and budget auditing, design and construction audit, engineering support for design and construction, project engineering, financial control over project budgets, preparations for project feasibility studies and etc.

SNC-Lavalin Group Inc is one of the world’s leading engineering and construction groups. It provides services on operation and technical maintenance of facilities in various economic sectors: production of food stuffs, pharmaceutical, chemical and petrochemical products, biotechnologies, construction, mining and smelting industries, power engineering. The company has its offices in Canada and more than 35 countries in the world. It is operating in more than 100 countries.

 

Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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