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.