Moscow Innovative Companies to Get Access to VEB.RF’s Electronic Platform and Receive Support from Development Institutions

7 june 2019 года
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During the St. Petersburg International Economic Forum, VEB.RF and Moscow Department for Entrepreneurship and Innovative Development signed an agreement on cooperation in innovative development and support for high-technology projects.

The agreement was signed by VEB.RF’s Deputy Chairman Alexey Ivanchenko and Head of Moscow Department for Entrepreneurship and Innovative Development Alexey Fursin.

Moscow has built a large-scale innovative infrastructure supported by Moscow Government through both financial and non-financial instruments. The city is interested in searching and adopting solutions aimed to enhance urban environment and improve the quality of life. For several years, Moscow Venture Investment Development Fund has been carrying out the programme to support innovative projects and venture investors at early stages. Since 2012, the Fund has invested 475 million roubles. Moscow has created an ecosystem of 35 technology parks with tax incentives that provide more that 50,000 jobs. By presidential decree, Moscow is building an innovative cluster based on a unique IT-platform.

“One of VEB.RF’s first priorities as a development institution is to develop urban environment and improve the quality of life. Our joint efforts are targeted at fundraising for Moscow high technology companies, building an innovative infrastructure, and providing access for innovative companies to the electronic platform created by development institutions.   Entrepreneurs are getting access to an integrated platform aggregating support measures, and to high-quality expertise at various stages, from idea generation and startup registration to product exports,” Alexey Ivanchenko emphasised.

“The agreement specifies an easy access for Moscow innovative companies to one more finance source. Projects carried out under VEB.RF’s programmes and located in Moscow will be fully supported by Moscow Government. Moscow is particularly interested in new urban solutions and is ready to provide platforms for pilot projects to non-Moscow companies which are included in the pool of innovative companies supported by VEB.RF,” Head of Moscow Department for Entrepreneurship and Innovative Development Alexey Fursin said.

VEB.RF, together with the relevant development institutions, and Mail.Ru Group have agreed to create an electronic platform to enable businesses to have fast and easy access to project support tools across various areas.

The platform will consist of business project support products for development institutions, namely VEB.RF, DOM.RF, RSMB Corporation and Russian Export Center.

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.

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VEB.RF Announces Strategic Partner to Construct New Paper Mill in Krasnoyarsk Territory

7 june 2019 года
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VEB.RF and Rockwell Capital investment company have signed a memorandum of intent to create a holding as part of a common strategy in the Russian timber processing complex. The parties’ first project stipulates the construction of a new paper mill in Krasnoyarsk Territory.

Conditions precedent to the project were concluded during the St. Petersburg International Economic Forum in the presence of VEB.RF’s Chairman Igor Shuvalov. The documents were signed by VEB.RF’s First Deputy Chairman and Member of the Management Board Nikolay Tsekhomsky and Rockwell Capital’s owner Gleb Frank.

The new pulp mill will be built at the production site of Kraslesinvest, a member of VEB Group. A total of about 140 billion roubles will be invested in the project. The production will be based on state-of-the-art technologies in compliance with environmental safety requirements. The mill's total capacity will be 900,000 tonnes of pulp per year.

“VEB.RF is ready to be a major financial investor. Front-end planning proved the project’s viability and, most importantly, the absence of feedstock and environmental risks. It is expected that the construction will start in the spring of 2020, with first pulp products entering the market as early as 2025. The new pulp mill will export its products to East and South-East Asia,’ Nikolay Tsekhomsky said.

Rockwell Capital intends to be a managing partner to consolidate the current assets and create new high-technology businesses and, respectively, an asset manager.

“Despite a well-developed timber processing industry, Russia has not built any new pulp mills over the last forty years due to high construction costs and long construction periods. As a result, the contribution of the timber industry to Russia’s economy is insignificant as compared to competitor countries. Our strategic goal is to build a new pulp mill employing advanced technologies for timber processing and chemistry and to introduce responsible timber exploitation practices,” Rockwell Capital’s owner Gleb Frank commented.

The parties will also cooperate in a number of projects to build new production facilities aimed at developing timber harvesting and processing assets in Siberian and Far-Eastern Federal Districts in order to create a national timber centre and timber processing enterprises. VEB.RF is ready to be a major financial investor that will attract repayable debt finance backed by government support. VEB.RF also intends to arrange project and export finance, including the involvement of foreign export agencies and application of Project Financing Factory mechanisms.

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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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