KuibyshevAzot Production Site Visited by Vnesheconombank’s Development Projects Team

Vnesheconombank’s First Deputy Chairman and Member of the Board Nikolay Tsekhomskiy has met with KuibyshevAzot’s management at the production site in Tolyatti, Samara Region. KuibyshevAzot is a leader in the Russian chemical industry.

«KuibyshevAzot’s project to build and operate a production facility with an annual capacity of 140,000 tonnes of K-grade sulphuric acid and 360,000 tonnes of refined oleum can become the first project of the Project Financing Factory. Investments will total as much as 6.5 billion roubles," Nikolay Tsekhomskiy said. «The Board of Vnesheconombank has already decided to use the Factory’s mechanism for Vnesheconombank’s participation in financing the project.»

The memorandum of intent to involve the Project Financing Factory in carrying out the project was signed by KuibyshevAzot and Vnesheconombank at SPIEF 2018.

According to KuibyshevAzot CEO Alexander Gerasimenko, the sulphuric acid and refined oleum project is aimed at providing feedstock, expanding the existing manufacturing capability and maintaining competitiveness for Russia’s only import-substituting process chain, from caprolactam and polyamide to fibre and fabric, created by the company. The project uses advanced resource-saving technology that ensures a high level of industrial and environmental safety.

Nikolay Tsekhomskiy and Vnesheconombank’s Deputy Chairman Yuriy Korsun were shown the company’s production processes and products and discussed prospects for future cooperation.

KuibyshevAzot operates in two core areas: 1) caprolactam and derived products (polyamide 6, durable technical and textile fibres, cord fabrics, industrial plastics); 2) ammonia and nitrogen fertilisers. The Company also has a joint venture producing industrial gases such as nitrogen, oxygen and argon.

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Igor Shuvalov Takes Part in Plenary Session of Small Business – National Project! Forum

OPORA RUSSIA All-Russian Public Organisation of Small and Medium Business held an entrepreneur forum in Moscow on 23 October 2018. The forum is designed to discuss and popularise the national project of small and medium-sized businesses and provide support for individual entrepreneurship.

In his speech, Igor Shuvalov told the forum participants about the involvement of Vnesheconombank and other development institutions in implementing the development agenda outlined in the May presidential decree.

Vnesheconombank’s Chairman said: «We are currently creating a uniform platform to demonstrate common tools of development institutions. We are concentrating our efforts on ensuring that all measures of administrative and financial support will be consolidated by March. This will be an end-to-end product. This will enable us to help exporters, help manufacturers. Through a network of regional banks, we will support small and medium-sized businesses.»

An important objective at this stage is to develop a modern urban economy. «A comfortable urban environment is dependent primarily on micro and small businesses. The government and a municipality can invest in the infrastructure needed by a town. But the comfortable urban environment proper depends on small businesses. In cooperation with Russian Small and Medium Business Corporation, SME Bank and other participants (Sberbank, VTB) we are currently considering what we can give to those involved in Russia’s urban infrastructure modernisation programme. This is what will help Russian towns to grow faster, ensure new quality of life through the growth of a local economy. This is high on our list of priorities," Igor Shuvalov emphasised.

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