Syndicate of Lenders Begins Financing Nakhodka’s Natural Gas Processing Plant Construction
The syndicate of lenders (VEB.RF and VTB Bank), along with the Far East Development Fund (part of the VEB.RF Group), has provided financing for the construction investment project of Nakhodka Fertilizer Plant in Nakhodka, Primorye Territory. On receiving prepayment, the foreign contractor, China Chengda Engineering Co., Ltd., has already started work under the EPC contract. Nakhodka Fertilizer Plant is to work at full capacity before the end of 2023.
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 facility’s production processes and products will meet the strictest environmental standards.
The project is financed by the VEB.RF and VTB Bank syndicate on the principles of the Project Financing Factory. In addition, the Far East Development Fund allocated 7 billion roubles for the construction project, and some of the funds have already been disbursed to the project initiator as part of the first drawdown.
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.
Created with financial support from VEB.RF, a dialysis centre opened its doors in Tver.
The project initiator is InstroyRegion. The Tver-based Nephroline haemodialysis centre began operation in December 2019. The centre is equipped with 27 latest-generation artificial kidneys made by Nikkiso, Japan, a world leader in haemodialysis equipment production. The centre is designed to treat a maximum of 162 patients on a three-shift basis.
The project needs to be implemented to deal with the existing issue of a shortage of high-quality medical services in relation to renal replacement therapy for patients suffering from chronic kidney failure.
The Tver Region Government cooperates with VEB.RF on socially significant projects. The cooperation agreement was signed by Governor Igor Rudenya and VEB.RF Chairman Igor Shuvalov during the St. Petersburg International Economic Forum in June 2019. Cooperation with the state development corporation allows the projects to receive optimal financial support, Igor Rudenya said.
“High-technology healthcare infrastructure is one of VEB.RF’s investment priorities. The experience of building modern medical centres and creating the conditions for effective medical care should be extended to other regions. VEB.RF is involved in the construction of two more dialysis centres in Naro-Fominsk and Sergiyev Posad,” VEB.RF’s First Deputy Chairman and Member of the Board Nikolay Tsekhomsky said.