Vnesheconombank and PAO KAMAZ signed a memorandum of cooperation in implementing the export strategy (Naberezhnye Chelny, the Republic of Tatarstan).
The document was signed by VEB's Chairman Sergey Gorkov for Vnesheconombank and KAMAZ's CEO Sergey Kogogin for PAO KAMAZ. The ceremony was attended by President of the Republic of Tatarstan Rustam Minnikhanov.
The parties intend to develop cooperation in projects aimed to bring Russian cars to foreign markets and procure comprehensive support for the implementation of KAMAZ's export strategy.
In particular, Vnesheconombank and KAMAZ agreed to promote the company's products to foreign markets, primarily CIS countries, South-East Asia, Latin America and Africa.
The parties believe that the memorandum will help to secure and expand KAMAZ's supplies in foreign markets. Vnesheconombank will provide comprehensive solutions in project finance.
During his visit to the Republic of Tatarstan, Sergey Gorkov discussed development prospects with the management of the company. In 2015 and 2016, Vnesheconombank's Supervisory Board approved the RUB 20 bn acquisition of KAMAZ's bonds by the Bank (as the state trust management company for pension savings). The funds were directed towards the modernisation of the existing facilities to launch production of a new generation of cars (K5).
In the Republic of Tatarstan, Vnesheconombank participated in the implementation of 6 investment projects for a total of RUB 297 bn. The Bank has provided over RUB 172.7 bn to finance them. At the moment, Vnesheconombank is considering three projects for a total of RUB 115.8 bn.
Sergey Gorkov takes part in official opening of Western High-Speed Diameter Central Seсtion in St.-Petersburg
On 2 December 2016, the Chairman of Vnesheconombank Sergey Gorkov took part in the opening ceremony of the Central Seсtion of the Western High-Speed Diameter highway (WHSD) in St.-Petersburg. The opening ceremony was attended by Russian President Vladimir Putin.
Having provided RUB 25 billion worth of funds for a term of more than twelve years, i.e. amounting to approx. 50% of the syndicated ruble loan raised in 2012 to deliver the project, VEB has become one of the senior lenders for the construction of the WHSD Central Seсtion.
WHSD is one of the major public-private partnership (PPP) projects in road construction financed by Vnesheconombank. According to Sergey Gorkov, co-financing of the WHSD project is something the Bank is quite proud of.
The WHSD Central Seсtion project is being implemented in compliance with a 30-year PPP agreement signed with the St.-Petersburg Municipal Government and its 100% subsidiary ZSD Joint-Stock Company. The contractor in charge of this landmark transport project is Northern Capital Highway Consortium.
The highway is of paramount importance for the capital of the North: it will allow for diverting the bulk of traffic away from the historic centre of the city. On a nationwide scale, the highway, as a part of the North-South international transport corridor, significantly contributes to the mobility of Russia's Northwestern Federal District population.
The WHSD main route length is 46.6km, with a total length including exit roads and junctions exceeding 70km. The project provides for fifteen road junctions and 4-8 traffic lanes. The highway would help reduce traffic in the historic centre, ring road and road network of St.-Petersburg, and allow for motorists to traverse the city in less than twenty minutes.