Twenty New-Generation Underground Carriages Sent from Moscow to Tashkent

19 september 2019 года
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VEB.RF has provided financing for the project to supply modern Russian underground carriages for the Tashkent Metro. An official ceremony took place today to mark the supply of carriages to Tashkent. The rolling stock was made by Moscow-based Metrovagonmash (part of Transmashholding, a leading manufacturer of railway vehicles in Russia and the CIS).

The loan agreement to finance the supply of carriages and provide ancillary equipment and services for the Tashkent Metro was signed by VEB.RF and the National Bank of the Republic of Uzbekistan for Foreign Economic Activity (NBU) in late May 2019 in the presence of the Russian and Uzbek heads of state, Dmitry Medvedev and Abdulla Aripov.

“With the support of the NBU, VEB.RF finances the implementation of a significant export project to supply modern carriages for the Tashkent Metro. Apart from the loan of 19.62 million euros given to the Uzbek partner, VEB.RF has issued guarantees of 25 million euros to secure Metrovagonmash’s obligations under a contract of 27.65 million euros. Support for the export of Russian high-technology products is high on VEB.RF’s set of priorities. The Russian and Uzbek financial institutions have already invested a total of over 200 million euros in projects implemented in the republic,” VEB.RF’s Deputy Chairman Daniil Algulyan said.

“The principal goal of Transmashholding is to be as close to the customer as possible, to be perfectly knowledgeable about its operational aspects and to be ready to make an offer technologically and economically efficient to the largest extent possible,” Transmashholding’s Deputy CEO for Urban Transport Development Andrey Vasilyev said.



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Natural Gas Processing Plant to Be Built in Nakhodka with Support from VEB.RF and CDB

17 september 2019 года
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VEB.RF and China Development Bank (CDB) agreed to enter into a strategic partnership to finance a Nakhodka-based natural gas processing plant.

During the 24th regular meeting of the Russian and Chinese heads of state in Saint Petersburg, VEB.RF and CDB signed a strategic partnership agreement to finance the Nakhodka Fertilizer Plant construction project.

The document was signed by VEB.RF Chairman Igor Shuvalov and CDB President Zheng Zhijie. The agreement is part of the large-scale joint agenda of VEB.RF and CDB in respect of financial support for integration processes within the Eurasian Economic Union (EAEU) and China’s Belt and Road Initiative.

“Today, together with CDB, we have taken another major step forward in investment cooperation between our countries. The construction of the Nakhodka plant is a large and interesting project; it is very important for the Far East and Russia’s economic diversification. During the Eastern Economic Forum, we recently signed the loan documents for Nakhodka Fertilizer Plant with one of Russia’s largest commercial banks, VTB. Now CDB, our long-standing and reliable partner, is a participant of the project. Once more this shows the quality of our joint projects and the high level of trust between the development banks of Russia and China,” VEB.RF Chairman Igor Shuvalov said.

Under the agreement, CDB will provide long-term financing for the VEB.RF and VTB syndicate. VEB.RF is the coordinator of foreign borrowings. The financing for Nakhodka Fertilizer Plant is structured on the principles of the Project Financing Factory. The total design capacity of the project’s first phase is 1.8 million tonnes of methanol per year. Natural gas for production will be supplied from Sakhalin fields. The construction of the plant will start in 2019, and Nakhodka Fertilizer Plant will work at full capacity in mid-2023.

When completed, the project will create over 1,500 highly professional jobs in the Primorye Territory. The plant will bring about a massive increase in tax revenue, improve the efficiency of using natural resources and strengthen Russia’s position in the Asia-Pacific markets.


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VEB.RF and FEDF to Finance Sakhalin Railbuses

5 september 2019 года
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The agreement was signed on the sidelines of the Eastern Economic Forum by VEB.RF’s Deputy Chairman Artyom Dovlatov and the FEDF’s CEO Alexei Chekunkov. The document confirms the parties’ intention to explore the possibilities of jointly preparing and implementing projects for the purchase and subsequent leasing of Sakhalin railbuses.

“Sakhalin residents have recently been the first in Russia to use modern suburban railbuses. This is a good example of a synergy between development organisations, VEB.RF’s leasing mechanism with the FEDF’s financial participation. This work can be continued; the region also needs at least four railbuses,” VEB.RF’s Deputy Chairman Artyom Dovlatov commented.

“The development of the transport and logistics infrastructure of the island is high on our list of priorities. I am confident that the new project not only will benefit Sakhalin residents, but also will be another example of effective interaction within the VEB.RF Group,” the FEDF’s CEO Alexei Chekunkov said.



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Natural Gas Processing Plant to Be Built in Nakhodka with Support from VEB.RF

5 september 2019 года
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During the Eastern Economic Forum, VEB.RF, VTB and Nakhodka Fertilizer Plant signed loan agreements to finance the construction investment project of Nakhodka Fertilizer Plant in Nakhodka, Primorye Territory.

The total design capacity of the project’s first phase is 1.8 million tonnes of methanol per year. Natural gas for production will be supplied from Sakhalin fields. The design and construction of the plant with financial support from VEB.RF and VTB will start in 2019, and Nakhodka Fertilizer Plant will work at full capacity in mid-2023.

The financing for the project is structured on the principles of the Project Financing Factory. In addition, a preferential loan of 7 billion roubles was given to the project initiator by the Far East Development Fund (part of the VEB.RF Group). The loan agreement is was signed on the sidelines of the Eastern Economic Forum. The loan will be used to finance the preparatory phase of the EPC contract.

When completed, the project will create over 1,500 highly professional jobs in the Primorye Territory. The plant will bring about a massive increase in tax revenue, improve the efficiency of using natural resources and strengthen Russia’s position in the Asia-Pacific markets.



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VEB.RF and JBIC Launch Co-financing Programme for Regional Projects

5 september 2019 года
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VEB.RF and the Japan Bank for International Cooperation (JBIC) signed a loan agreement to finance the construction of the Sayuri year-round greenhouse facility in Yakutia.

The project will be funded under the agreement to provide co-financing for Far Eastern-based projects with Japanese export content. The document provides for collaboration between VEB.RF and JBIC to arrange financing for regional investment projects supported by Japanese Project Promotion Vehicle in the Far East (JPPV).

JPPV was established by the Far East and Baikal Region Development Fund (FEDF; part of the VEB.RF Group), Far East Investment and Export Agency and JBIC in 2018 to assist Japanese investors in finding local partners and provide information and administrative support for projects. More than 20 projects are supported by JPPV now. Work is under way under cooperation agreements with 16 Japanese companies.

JPPV helps Japanese partners to carry out the project to build a used car recycling plant in the Primorie Territory and a wood pellet plant in the Khabarovsk Territory.

As agreed, JPPV investment projects can receive a total of 15 billion Japanese yen from Japanese lenders for up to 10 years at the initial stage. Russian financing will come from both FEDF and VEB.RF.

“Several key projects are already under way with the participation of Japanese partners. For example, these are Arctic LNG (the project with Japanese involvement to build LNG infrastructure in the Far East) and Khabarovsk Airport development with the participation of a consortium of Japanese investors. We are also interested in encouraging cooperation in implementing projects aimed at creating a high-quality urban environment in large populated places in the Far East, primarily Vladivostok, Khabarovsk and Petropavlovsk-Kamchatsky,” said VEB.RF Chairman Igor Shuvalov.

“Preliminary decisions have already been taken to provide FEDF loans for the Sayuri greenhouse facility. The project is important for the quality of life in the region, delivering a year-round supply of fresh vegetables to local residents. Until recently, more than 80% of such produce had to be imported from abroad,” said FEDF CEO Alexei Chekunkov.



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