InfraVEB to Structure Vladivostok Ring Road Construction Project

7 june 2019 года
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During the St. Petersburg International Economic Forum, state-owned company Russian Highways, InfraVEB, and the Primorie Territory administration entered into a tripartite agreement on cooperation in the structuring and implementation of the Vladivostok Ring Road investment project.

The document was signed by Russian Highways’ Chairman of the Board Vyacheslav Petushenko, InfraVEB’s CEO Yuriy Korsun, and Governor of Primorie Territory Oleg Kozhemyako.

The parties agreed to cooperate in the structuring and implementation of the project to construct a motorway in Vladivostok, as well as in delivering other road infrastructure projects.  

“State-owned company Russian Highways is ready to assist in delivering infrastructure projects and introducing innovative technology. I hope that our joint project will allow motorists to make it from one Vladivostok’s district to another much faster than now. It will also improve the environment and transport accessibility across the agglomeration,” Russian Highways’ Chairman of the Board Vyacheslav Petushenko said.

 “Transport infrastructure development is on VEB.RF’s priority list. The project in Vladivostok will be implemented drawing on state-of-the-art innovative technology. It is expected to structure the project on the public-private partnership principles. InfraVEB is ready to help raise private capital to finance the project,” Yuriy Korsun said.

“This year, we are going to invite bids for price substantiation, make preliminary calculations as to the application of funds for the construction of this road, and explore PPP options. It is exactly this agreement that enables both VEB.RF, Russian Highways and other companies to size up all these options and then come up with their financing proposals. In 2019 - first half of 2020, it is scheduled to provide price substantiation and then to proceed to the engineering and construction proper,” Governor of Primorie Territory Oleg Kozhemyako said.

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VB.RF and Sberbank to Finance Novaport Holding’s Network of Regional Airports in Six Russian Regions

7 june 2019 года
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During the St. Petersburg International Economic Forum, VEB.RF and its partner bank signed a term sheet for financing a project to upgrade regional airports comprising Novaport Group in six Russian cities. Brand new terminals will be built in Murmansk, Astrakhan, Vladikavkaz, Tomsk, Kemerovo, and Ulan-Ude. The project financing will be structured in accordance with the principles of the Project Financing Factory in the form of a syndicate of Russian banks using special-purpose tranches and a subsidised interest rate. Sberbank will be a partner bank in the syndicate.

The document was signed on behalf of VEB.RF by its First Deputy Chairman and Member of the Board Nikolay Tsekhomskiy, on behalf of Sberbank by Deputy Chairman of Executive Board Anatoly Popov and on behalf of NOVAPORT HOLDING by Chairman of the Board of Directors Roman Trotsenko.

A 12-year syndicated loan for the amount of 6.6 billion roubles will be used for the construction of new airport terminals. In compliance with its terms and conditions, VEB.RF and Sberbank are to extend 2.65 billion roubles and 3.85 billion roubles in financing.

The construction is scheduled to be completed in 2023. The regional centres will obtain six modern airport terminals with almost 33,000 square metres of additional space for some 10 million extra passengers on a 12-year horizon. Furthermore, the year 2030 will see about 1,300 new jobs created with benefits exceeding costs by 4.4 billion roubles.

Novaport Holding’s Chairman of the Board of Directors Roman Trotsenko said:

“The project of integrated development of airport infrastructure will set the stage for new destinations and new air carriers, and, ultimately, deliver quality services to passengers and significantly increase passenger traffic. I am confident that investments in this project, in which we have injected 5.1 billion of our own funds will pave the way for even more ambitious joint projects in future. We estimate that investment in further development of our airports in the next five years will exceed 50-70 billion roubles.”

“The renovation of the regional airports’ infrastructure and expanding the network of interregional scheduled passenger air routes to 50% of the total domestic scheduled air routes are the objectives specified in the 2024 Integrated Plan for Upgrading and Expanding Trunk Infrastructure. As a development institution, VEB.RF views the tasks assigned by the May decree as its priority.   Currently, VEB.RF Group is contemplating its participation in the financing of ten transport infrastructure investment projects totalling over 1.5 trillion roubles and included in the Integrated Plan, and more than ten projects totalling over 1 trillion roubles and considered for inclusion in the Integrated Plan,” Nikolay Tsekhomskiy noted.

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VEB.RF, Russia Railways and Rostec Sign Road Map to Manufacture High-Technology Products for Railway Industry

7 june 2019 года
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At the St. Petersburg International Economic Forum, Russian Railways, Rostec State Corporation and VEB.RF signed a road map to phase out imports of digital products in the railway industry.

The road map was designed to implement the memorandum on cooperation in import substitution, innovative development and digital economy projects that was signed by the parties in February.

The road map provides for the high-technology products and solutions of Rostec’s Radiolectronics Cluster to be checked-out and tested using the facilities of railway transport companies. Successfully tested equipment can be then purchased by Russian Railways with potential backing from State Development Corporation “VTB.RF’.

“VEB.RF gives priority to major infrastructure projects, introduction of Russian leading-edge technology and digital solutions, and better transport accessibility. VEB.RF cooperates with Russian Railways and Rostec in several key business areas, which are now specified in the road map together with timelines and responsible officers. Importantly, each of our common tasks is ultimately designed to improve the quality of our people’s life,” VEB.RF’s Deputy Chairman Aleksey Ivanchenko said.

“The signing of this road map wraps up the preliminary stage of reviewing our companies’ requirements and capabilities, and we are moving on to collaborative work for the benefit of our customers,” Director for Information Technologies at Russian Railways Evgeniy Charkin said.   

“Cooperation with Russian Railways and VEB.RF will enable Rostec to promptly implement advanced digital solutions in the railways infrastructure. It would also facilitate the achievement of goals set in the Digital Economy national project and contribute to import substitution. Rostec has already created efficient, reliable, cyber- secure and price-wise competitive products, which will be customized for Russian Railways’ needs,” Industrial Director of Rostec’s Radioelectronics Cluster Sergey Sakhnenko said.

The most promising areas of potential cooperation include Russian digital solutions ensuring tight information security for management information systems, IT and telecommunications equipment, robotics, and the industrial internet of things devices management.

At the Russian Investment Forum in Sochi in February 2019, Rostec State Corporation, Russian Railways and VEB.RF signed a memorandum on cooperation in import substitution, innovative development and digital economy projects. The partners have committed to facilitate the creation and localisation of high-technology non-defence products for the benefit of Russian Railways and using technological capacities of Rostec’s companies with potential backing from VEB.RF.

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.

One of the largest industrial companies in Russia, Rostec State Corporation comprises over 700 research and industrial companies in 60 regions of the country. Its key business areas include transport engineering, electronics, medical technology, chemistry, and innovative materials. Rostec’s holdings are divided into three clusters: radioelectronics, armaments, and aviation. Rostec’s portfolio includes such well-known brands as AVTOVAZ, KAMAZ, Kalashnikov, Russian Helicopters, URALVAGONZAVOD, and others. Rostec actively participates in all the twelve national projects. The major supplier of the Smart City technology, the company engages in the digitalisation of public administration, industry, and social sectors, and elaborates 5G development programmes, industrial internet of things, big data, and blockchains. Among its partners, Rostec counts leading global producers such as Boeing, Airbus, Daimler, Pirelli, Renault, etc. The corporation exports its goods to more than 100 countries. High-technology exports account for almost one third of the company’s revenues.

Russian Railways is one of the world’s largest railway companies with a vast freight and passenger volume. The company has high financial ratings, skilled professionals in all spheres of railway transportation, a broad science and technology base, project and construction facilities, and considerable experience in international cooperation.

The company operates one of the world’s largest transportation network with 85,500 km of maintained tracks and 43,700 km of electrified lines.

Russian Railways account for 45% and about 25% of Russia’s total freight (including pipeline transportation) and passenger traffic, respectively.

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Nizhniy Novgorod to Obtain New Trams and Buses with Backing from VEB.RF

7 june 2019 года
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During the St. Petersburg International Economic Forum 2019, VEB.RF’s Chairman Igor Shuvalov and Governor of Ulyanovsk Region Sergey Morozov signed an agreement on cooperation between Ulyanovsk Region and VEB.RF. The Agreement addresses the priority tasks of developing the region’s transport system.

In particular, the parties intend to cooperate in the modernisation of a tramway system and construction of new tram lines in the Nizhniy Novgorod agglomeration. VEB will use its leasing mechanisms to help renew the tram and bus fleet. VEB.RF is also prepared to assist the region in designing project financing schemes.

Igor Shuvalov said: “Historically, Nizhniy Novgorod has been one of the key national economic centres. In April, the region’s capital hosted a business mission of the development institutions. We were shown a number of promising projects. An integrated approach to the agglomeration’s transport problems may dramatically improve the quality of urban infrastructure.”

Governor of Nizhniy Novgorod Region Gleb Nikitin said: “We understand that today a stable development of the Nizhniy Novgorod agglomeration requires large-scale and capital-intensive projects. The leading development institution’s endorsement of our ideas proves that the federal government views Nizhniy Novgorod Region as a high growth potential territory, comfortable for residents and attractive for investors.”

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Development Institutions to Deliver Pilot Projects in Sakhalin Region

7 june 2019 года
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During the St. Petersburg International Economic Forum 2019, VEB.RF’s Chairman Igor Shuvalov, DOM.RF’s CEO Alexander Plutnik and Interim Governor of Sakhalin Region Valeriy Limarenko signed an agreement on cooperation between Sakhalin Region, State Development Corporation “VEB.RF” and the Foundation of Integrated Housing Development Institution (established by DOM.RF).

The parties agreed to cooperate in addressing priority tasks of social and economic development of Sakhalin Region. The Agreement also specifies joint pilot projects. The first project is aimed at the gasification of the region’s power- and heat supply sources using the public-private partnership approach. The second one deals with the development of urban environment in Yuzhno-Sakhalinsk. The project provides for the construction of a residential block as well as social and business blocks in compliance with the standard of integrated spatial development.

“We very much appreciate the assistance of development institutions. It will enable us to transform and improve the life of thousands of Sakhalin residents, to provide them with green energy, heating, and new jobs much sooner, within just a few years. We’ll be able to minimise coal consumption, massively improve the image of the island capital, and move people to new comfortable houses,” Interim Governor of Sakhalin Region Valeriy Limarenko said.

The region’s head of administration also stressed that he was looking forward to further cooperation with development institutions and new joint projects.

VEB.RF’s Chairman Igor Shuvalov said: “This Agreement is another milestone in our cooperation with Sakhalin Region. In April, development institutions sent a team of their representatives to the region on a business mission. We discussed promising investment projects. The region has considerable potential for the municipal economy development. The Agreement sets a regulatory framework required to implement these joint plans.”

“The integrated urban development is about creating not only the prerequisites for economic growth but also a comfortable urban environment. It is an essential basis for sustainable development. The tripartite agreement will help focus on developing the region’s competitive edges and give necessary impetus to overall growth in the region,” DOM.RF’s CEO Alexander Plutnik commented.

On 23 April, development institutions’ CEOs headed by VEB.RF’s Chairman Igor Shuvalov visited Yuzhno-Sakhalinsk. They had a meeting with Interim Governor of Sakhalin Region Valeriy Limarenko and his team to discuss promising projects, in particular, in transport, power generation, healthcare, and investment in municipal and tourism infrastructure.

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