Vnesheconombank Intends to Participate in Preparation for Implementing a Project Aimed at Building Archangel-Syktyvkar-Perm (Solikamsk) Trunk Railway

16 august 2011 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and Open Joint Stock Interregional Company Belkomur entered into a Memorandum of Intent on Implementing a Project to Build a Trunk Railway Archangel-Syktyvkar-Perm (Solikamsk).

On behalf of Vnesheconombank the Memorandum was signed by Management Board Member, Vnesheconombank Deputy Chairman Anatoly Ballo and on behalf of JSC Belkomur –by its Director General Elman Khudazarov.

Under the Memorandum the parties are to prepare reasons and conditions for implementing the project on public private partnership principles in line with a scheme for concluding a concession agreement and take appropriate measures to engage participants in implementing the project including Russian and/or foreign companies to fund the project both at a stage of preparing the project for a tender and at a later stage. Vnesheconombank is also to explore the possibility for its own participation in funding the project’s implementation once a concessioner has been identified.

A working group has been set up to coordinate the parties’ interaction.

The project (Belkomur) to build a trunk railway Archangel-Syktyvkar-Perm (Solikamsk) under the Comprehensive Program of Industrial and Infrastructure Development of the Komi Republic, the Perm Territory and the Archangel region provides for building a new trunk railway with a total length of 1155 km, with new construction being 715 km and the rest accounting for reconstruction and upgrading of the existing railway lines. Belkomur is comprised of two sections: the Northern section runs through the territory of the Archangel region and the Komi Republic, the Southern section runs from Syktyvkar through the territory of the Komi Republic and the Perm Territory. This new trunk railway is of strategic importance for Russia as it will directly connect the Urals and the Komi Republic with ice-free ports in Archangel, Murmansk and North Europe. In the future, the new railway will provide the shortest way to North Europe and regions of Siberia, Kazakhstan and Central Asia creating favorable conditions for cargo transit through Russia.

Engineering Company OJSC Interregional Company Belkomur was set up by the decision of Russia’s three constituent entities – the Komi Republic, the Archangel region and the Perm Territory to implement this project.

 

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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