«We considered this issue and certain decisions were made. Any information on placing shares is confidential», said Dmitriev at the end of VEB’s Supervisory Board meeting conducted by its Chairman -Russian Prime Minister Vladimir Putin.
«Any information on this account that gets into the mass media does not have anything to do with VEB», said the Chairman of Vnesheconombank.
The Russian aluminum giant’s IPO is to be held until this
Earlier, the source close to Rusal told RIA Novosti that the Company stood a very good chance of reaching a final agreement on restructuring its debts to the consortium of foreign banks until November 19 — a critical date in terms of being able to hold IPO in the current year. Nevertheless, Rusal did not say that it had signed such an agreement.
VEB’s Supervisory Board decides to expand financing of mortgage lending through using pension funds
Moscow. November 19.
«A substantial part of about 470 billion rubles under VEB’s current management might be used to finance mortgage lending», said
According to him, VEB is expected to receive funds from the Russian Pension Fund in the first quarter of 2010. As a result, according to VEB’s Chairman, the total amount of pension funds under the Bank’s management would be 690 billion rubles.
«Taking into account limitations on investing funds in certain types of bonds, that is, 70% of one issue (in this case mortgage bonds) and no more than 20% of the total investment portfolio, we believe that the amount of mortgage lending would be significantly increased.
Moreover, he said the Bank’s Supervisory Board had also considered an issue of financing mortgage lending through using incomes generated by VEB through using financial resources of the National Wealth Fund.
On Signing Memorandum between Vnesheconombank, the Omsk Region Administration, ROSNANO and the Titan Group of Companies
State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, the Omsk Region Government, the State Corporation “The Russian Corporation of Nanotechnologies” (ROSNANO) and the Titan Group of Companies entered into a Memorandum on Cooperation.
On behalf of Vnesheconombank the Memorandum was signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of the Omsk region Government - by Governor and Chairman of the Government Leonid Polezhaev, on behalf of ROSNANO – by its General Director Anatoly Chubais, on behalf of the Titan Group of Companies by its Board Director Alexandr Sutyaginsky.
Under the Memorandum the parties plan to promote all-round cooperation to increase the level of the Omsk region’s economic and technological development, encourage innovations in electric power and petrochemical industries and agro-industrial complex.
Top priority is to be given to the following projects to be implemented on the territory of the Omsk region:
building a full-cycle production facility for a complete silicon conversion from a mineral raw material to a top-quality raw material for ferrous and non-ferrous metal-making industries, solar energy industry, microelectronics industry and nanotechnologies;
building a plant to manufacture a high-octane oxygen-containing additive to gasoline – ethyl tert-butyl ether with the use of nanoporous multi-layer membranes.
The implementation of this Memorandum would help encourage investment activity aimed at boosting the region’s socio-economic and infrastructure potential and create new jobs.
Russian State Corporation of Nanotechnologies (ROSNANO) was founded by Federal Law №139-FZ on July 19, 2007 to pursue the state’s policy in the field of nanotechnologies, develop innovation infrastructure in nanotechnologies and implement projects aimed at creating promising nanotechnologies and nanoindustry.
Titan Group of Companies is a holding company with an annual turnover in excess of 550 million US dollars. It is among 100 largest companies in Russia. The holding’s main line of activity is to manufacture and sell petrochemical products.
Origin: Press Office of Vnesheconombank
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