VEB.RF and Stroyproyektholding Agree to Create Largest Infrastructure Financing and Construction Player
VEB.RF and Stroyproyektholding agreed to create a joint venture, the largest player on the infrastructure financing and construction market.
The signing ceremony of the Memorandum of understanding, goals and principles of the joint venture at the St. Petersburg International Economic Forum was attended by VEB.RF’s Chairman Igor Shuvalov.
Under the planned agreement, VEB.RF will possess a 50% stake in the JV. The agreement to form an alliance between infrastructure construction companies and the financial development institution will bring significant synergy effects, including projects financing support, entry to international markets, project structuring competencies. The agreement will create a platform enabling active engagement in the national projects to fulfil transport and urban infrastructure development goals.
The parties consider expanding the joint venture competencies to cover other areas of infrastructure construction, namely construction of energy, shipping and rail road infrastructure. The joint venture is interested in the assets of the largest players in these areas of business: TEK Mosenergo, Trest Gidromontazh, the 1520 Group of Companies etc.
“We analysed international integrated infrastructure companies’ best practices and can make a conclusion that a joint venture will be an efficient tool to achieve an infrastructure breakthrough in the Russian Federation; this joint venture may benefit from significant competitive advantages on the international markets as it will bring together the leaders in design, construction and operation of complex infrastructure facilities and the State Development Corporation VEB.RF’s tangible financial resources and project financing structuring experience,” VEB.RF’s First Deputy Chairman and Member of the Management Board Nikolay Tsekhomsky said.
“Participation in this project is advantageous from all angles. First, we are expanding our opportunities: team’s lessons learnt will be useful in more cases. Second, approved by the parties partnership pattern creates new process equipment upgrade opportunities, ways to procure state-of-the-art machinery, which will make it possible to master cutting edge technologies,” Stroyproyektholding’s Executive Director Alexey Spiridonov emphasized.
The joint venture participants considered Stroyproyektholding’s complex infrastructure projects design and construction experience and VEB.RF’s infrastructure projects financing experience and came to a conclusion that both parties are a perfect match to complement each other’s key competencies to become a leader on the complex infrastructure financing and construction market: HR, experienced and highly qualified management, management systems, supply chains, requisite financial resources, engineering and production capacities, know-how and unique technologies for the Russian market.
VEB.RF is a state development corporation. In partnership with commercial banks and investors, VEB.RF is involved in national projects designed to support high value-added manufacturing, non-resource exports, urban agglomeration and infrastructure development. VEB.RF coordinates activities of the largest national development institutions: Russian Export Center, DOM.RF, RSMB Corporation, the Far East and Baikal Region Development Fund, MONOGORODA.RF.
Stroyproyektholding LLC a holding company with a single member A.R. Rotenberg established in 2014. Stroyproyektholding owns 100% shares in TFK Finance JSC, the majority shareholder of Mostotrest PJSC.
VEB-Leasing and Philips Announce Partnership in Medical Equipment Leasing
On June 7 at the St. Petersburg International Economic Forum, VEB-Leasing and Philips announced partnership in medical equipment leasing. The partnership is aimed at increasing medical services accessibility and quality in Russia.
АО VEB-Leasing (part of the VEB Group) and Philips agreed to cooperate in medical equipment leasing. The respective agreement was signed by VEB-Leasing’s General Director Artyom Dovlatov and Philips’ General Director for Russia and CIS Maxim Kuznetsov on June 7 at the St. Petersburg International Economic Forum. The agreement aims to create better and more flexible conditions for procurement of high-technology medical equipment by public and private healthcare centres and to create more development and upgrade opportunities for the Russian healthcare.
During the signing ceremony the parties expressed their interest in a long-term partnership for procurement and leasing of medical equipment such as angiography systems, CT and MRI scanners, cardiography systems, fibrillation devices, IT solutions and other technologies in Philips’ portfolio.
VEB-Leasing has extensive experience in the implementation of different social projects. “We welcome the partnership with Philips, one of the leading healthcare solutions providers. We hope that our concerted effort will enable a massive medical equipment upgrade campaign in health centres all across the country. The financial lease will make it possible to upgrade equipment regularly so that patients will benefit from cutting edge diagnostics medical technology,” VEB-Leasing’s General Director Artyom Dovlatov said.
Today the financial lease is becoming one of the most efficient solutions for procurement of the state-of-the-art medical equipment. The financial lease enables health centres to timely carry out equipment upgrades on better conditions which promotes development and enhancement of the Russian health care quality. We hope that together with VEB-Leasing we will ensure timely delivery of internationally recognized equipment to Russian health centres. We also hope that Philips’ service support, which may be included into the leasing contract, will guarantee failure free operation of medical equipment,” Philips’ General Director for Russia and CIS Maxim Kuznetsov said.
VEB-Leasing is part of the VEB Group. The Company’s core business is related to leases of modern aircraft, high-technology equipment, railway vehicles, sea and river vessels, motor vehicles and special-purpose equipment. As specified in the Memorandum on Financial Policies, one of VEB.RF’s priorities is contributing to Russia’s economic development by providing lease financing, delivering big infrastructure projects, growing urban economy, including development of transportation systems, upgrade of housing and public utilities.
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. The company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Headquartered in the Netherlands, Philips generated 2018 sales of healthcare solutions in the amount of EUR18.1 billion. Philips employs 77,000 people in more than 100 countries. For more news about Philips please visit http://www.philips.ru/newscenter.
VEB Leasing, NUETI and Nissan Sign Cooperation Agreement on Urban Infrastructure Development
During the St. Petersburg International Economic Forum 2019, VEB Leasing, New Urban Environment and Transport Infrastructure (NUETI) (a member of Mail.ru Group) and Nissan Manufacturing RUS entered into a cooperation agreement. The agreement was signed by VEB Leasing’s Director General Artyom Dovlatov, NUETI’s Chairman of the Board and Mail.ru Group’s (Russia) Director General Boris Dobrodeev, and Nissan Manufacturing RUS’s Director General Igor Boitsov. The signing ceremony took place in the presence of VEB.RF’s Chairman Igor Shuvalov.
The agreement was signed under a joint project to develop a new urban infrastructure and services for households on the basis of “online to offline” projects. The first project stage involved the parties’ cooperation in the car sharing service. Initially VEB Leasing financed manufacturing of 250 Nissan Qashqai vehicles of Russian origin. The joint project provides for the delivery of up to 10,000 Nissan Qashqai cars during the year.
“The creation of a comfortable urban environment is a priority for VEB.RF Group. Car sharing is an essential modern urban service along with public transport. It is important for car sharing to be promoted in regions thus helping to create a favourable transport infrastructure,” VEB.RF’s Deputy Chairman and VEB Leasing’s Director General Artyom Dovlatov commented.
“Mail.ru Group strives to satisfy all customer needs in digitalisation. The range of digital services currently includes online access to offline services. The cooperation will become a logical development of our presence in the transport services market. We expect that this project will contribute to creating a comfortable urban environment through seamless online access to car sharing,” NUETI’s Chairman of the Board and Mail.ru Group’s Director General Boris Dobrodeev commented.
“We are witnessing rapid changes in the automotive market, particularly in terms of car ownership culture in Russia. Car sharing becomes more and more popular in big cities and is actively developing in regions. Nissan is keen on involving in the development of new transportation systems in modern Russian cities and on being fully aware of amendments in the automotive market,” Nissan Manufacturing RUS’s Director General Igor Boitsov said.
VEB-Leasing is part of VEB Group. The Company’s core business is related to leases of modern aircraft, high-technology equipment, railway vehicles, sea and river vessels, motor vehicles and special-purpose equipment. As specified in the Memorandum on Financial Policies, one of VEB.RF’s priorities is contributing to Russia’s economic development by providing lease financing, delivering big infrastructure projects, growing urban economy, including development of transportation systems, upgrade of housing and public utilities.
Nissan’s activities in Russia
The company has been operating in Russia since 2004. In 2018, Nissan Group manufactured 106,138 models in Russia under the Nissan, Infiniti and Datsun brands (the same output year-on-year). The total market share was 5.9%.
In 2018 the company put several new brands on the Russian market (Nissan X-Trail, Infiniti QX50, Infiniti QX 80), achieved an unprecedented increase in output in its Saint Petersburg plant, and developed and upgraded the dealer network. At the beginning of 2019 a new Nissan Qashqai model came on the Russian market.
Russia is currently among the few countries in the world to manufacture all the three Nissan brands.
In 2018, 80,925 Nissan vehicles were sold in the Russian market (a 6.5% increase year-on-year).
Every Nissan vehicle is covered by the manufacturer’s New Vehicle Warranty for 3 years or 100,000 km, whichever comes first, if the vehicle parts or components prove defective in materials or workmanship, excluding those not covered by the Warranty. Such Warranty shall be valid in Russia, CIS countries and Europe. Nissan vehicles are further protected with a 6- or 12-year anti-corrosion warranty (based on a vehicle model) irrespective of mileage. Nissan offers its customers post-warranty maintenance under the Nissan Service 3+ programme.
In March 2012, Nissan MotorCo., Ltd. announced the re-launch of its Datsun brand, the company’s third global brand along with Nissan and INFINITI. With its brand-new Datsun the company will target optimistic active car-buyers in the emerging markets who are interested in state-of-the-art, reliable and affordable vehicles. In Russia the re-born Datsun was presented in 2014 and after three months of sales demonstrated impressive results making in December the top twenty most popular car brands in the country. Datsun has made its Russian debut with all-new on-DO sedan and mi-DO hatchback. In 2018, 20,559 Datsun vehicles were sold in the Russian market, with the company’s market share reaching 1.1%.
Russia became the first European country to welcome the luxury INFINITI brand initially exported to the North-American market. Official sales started in Russia in October 2006. From January through December 2018, the Infiniti brand sold 4,654 vehicles in the Russian market.
Please find more details about the vehicles and services on the company’s website:
Company information in Russian for media at:
VEB.RF and State Company Russian Highways Create Investment Platform for Support of Public-Private Partnership Projects
VEB.RF and the State Company Russian Highways create an investment platform for support of public-private partnership projects.
The agreement on the platform was signed by VEB.RF’s Deputy Chairman and InfraVEB’s CEO Yuriy Korsun and Avtodor-Invest’s Chairman of the Board Pavel Seleznyov. The signing ceremony took place at the St. Petersburg International Economic Forum. The ceremony was attended by Russian Highways’ Chairman of the Management Board Vyacheslav Petushenko.
“Finding new efficient financing mechanisms for the transportation industry never has been more relevant than today. On the one hand, these mechanisms would substitute the state funds, from the other hand, they would help to overcome financial hurdles of the PPP investments market. Today the parties are reviewing certain projects, which will be prepared and offered to investors. If VEB.RF participates in financing of such projects, InfraVEB may offer equity financing to a borrower subject to the results of the finance structuring,” Yuri Korsun said.
“The investment platform will make it possible to raise financing at transportation PPP projects’ front-end planning stage. Implemented projects will break the existing infrastructure barriers and have a positive impact on the Russia’s social and economic development. At the same time this partnership does not rule out participation in projects in other tertiary industries,” Pavel Seleznyov said.
VEB.RF, Gazprombank and Perspective Technologies Development Center (PTDC) Sign Loan Agreement to Finance Marking and Labelling System
Today VEB.RF, Gazprombank, and Perspective Technologies Development Center Operator, subsidiary of PTDC, signed heads of a loan agreement to finance a project aimed at developing a national digital goods marking, labelling and traceability system during the Saint Petersburg Economic Forum.
The heads of agreement were signed by Nikolay Tsekhomsky, VEB.RF’s First Deputy Chairman and Member of the Management Board, Alexey Belous, Gazprombank’s Deputy Chairman of the Management Board, and Mikhail Dubin, Perspective Technologies Development Center’s Chairman of the Board.
The project is implemented under Federal Law No. 224-FZ “On Public-Private Partnership”. The project will be financed via a syndicated loan in line with the rules of the Project Financing Factory (PFF). The total amount of facilities granted by the syndicate is up to RUB24.2bn, including VEB.RF and Gazprombank commitments in the amount up to RUB8.7bn and RUB15.5bn respectively.
“We are witnessing a significant market’s interest in the Project Financing Factory. The Marking, Labelling and Traceability System will become the first digital technologies and platform services project financed via VEB.RF syndicate with Gazprombank through the PFF’s mechanism,” said Nikolay Tsekhomsky.
“A future Marking, Labelling and Traceability System will make it possible to control commodity markets and ensure protection of consumers’ rights to the fullest extent. The public-private partnership mechanism will make it possible to ensure the most efficient use of public funds invested into the system,” Alexey Belous, Gazprombank’s Deputy Chairman of the Management Board, commented.
“The project is a public-private partnership financed by PTDC’s shareholders; in this format the government can reach the goals without spending public funds; the system will be implemented faster; the responsibility will be vested into a single entity. At the same time the government keeps all the control functions. The cooperation with VEB.RF and Gazprombank enhances the project’s financial efficiency,” Mikhail Dubin, Perspective Technologies Development Center’s Chairman of the Board, said.
Russia intends to implement an integrated Marking, Labelling and Traceability System by 2024. The system will cover a wide range of goods. Today the agreement on the public-private partnership features 13 groups of goods: furs, dairy products, tobacco products, pharmaceuticals, perfume and eau de toilette, tires, five categories of consumer goods, shoes, photo cameras and flash equipment.
The Perspective Technologies Development Center was created for the implementation of digital economy large scale projects. PTDC provides expertise and technological infrastructure for these projects. PTDC Operator, a subsidiary of the Center, was designated as the operator of the Federal Information System for Monitoring of Trade of Goods subject to Mandatory Marking and Labelling (Government Resolution No. 620-r). PTDC is developing the Russian National Integrated Digital Goods Marking, Labelling and Traceability System. Honest Quality Mark System will bring transparency to the commodity markets and create a comprehensive system for goods quality and authenticity control. This technology efficiently counters illegal goods, protects consumers and honest businesses. PTDC also participates in the development of the EEC’s supranational digital platform, organizes manufacturing of marking and labelling equipment, develops the National Goods Catalogue, manufactures fiscal memory devices for on-line cash registers.