VEB Group participates in funding the project on the construction of a flat glass plant in Dagestan

20 september 2014 года
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In the course of the 13th International Investment Forum Sochi-2014, Vnesheconombank, the Government of Dagestan, the Russian Direct Investment Fund (RDIF, VEB Group), OJSC the Caspian Flat Glass Plant entered into an agreement of intent to cooperate in enhancing investment activity.

On behalf of Vnesheconombank the agreement was signed by Chairman Vladimir Dmitriev.

VEB is the main creditor of the project on the construction of a flat glass plant on the territory of the Republic of Dagestan (the village of Tube, the Kumtorkalin district).

In its turn, RDIF (VEB Group) is exploring the possibility of investing funds in a major manufacturer of glass products. Investments to be raised could be used by OJSC the Caspian Flat Glass Plant for purchasing and commissioning high technology equipment to manufacture high-value added products that do not have national analogues and have a high export potential.

The parties have agreed to cooperate in advancing the project, the implementation of which would contribute to Dagestan’s socio-economic development and would give an impetus for the development of the entire region.

The project on the construction of the Caspian flat glass plant provides for creating an advanced high technology production facility to manufacture transparent glass, tinted glass and reflective glass by float method with a capacity of 600 tons a day. The plant’s construction total value is 10.5 billion rubles, with VEDB’s participation share being 7.8 billion rubles. The project gives high priority to both import substitution and to export of up to 40% of products including to CIS countries. At present, the project’s main production facilities have been put into operation, the plant is now at the stage of achieving rated capacities.

 

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

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VEB and Sberbank intend to support Russian exports

19 september 2014 года
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In the course of the International Investment Forum Sochi-2014, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and OJSC Sberbank of Russia signed an agreement on cooperation to enhance and support Russian exports.

On behalf of Vnesheconombank the agreement was signed by Chairman Vladimir Dmitriev and on behalf of Vnesheconombank – by President - Board Chairman German Gref.

The agreement sets forth main lines and principles of cooperation between VEB and Sberbank in implementing Russian companies’ export projects including raising funds to finance them. The agreement’s implementation would help to strengthen export potential of Russian producers of innovation and high technology products, diversify national export of products, services and technologies as well as make Russian companies more competitive on the world’s market.

 

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

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