First Stage of Major Sea Coal Terminal Project in Khabarovsk Territory Co-financed by VEB.RF and VTB is Completed
The first stage of coal terminal construction at the seaport of Vanino (Muchka Bay) in the Khabarovsk Territory has been completed. An official ceremony took place on 11 September to mark the opening of the coal transshipment facility with a capacity of 12 million tonnes.
The implementation of such large-scale investment project is largely attributable to VEB.RF's administrative and financial support under the Project Financing Factory programme. VTB is the major lender and arranger.
“VEB.RF’s commitment exceeds a third of the loan funds provided under the syndicated loan agreement. Investment into state-of-the-art port infrastructure is one of our key priorities. The joint financing provided by us and our partner, VTB Bank, under the Project Financing Factory programme is 34 billion roubles,” VEB.RF’s First Deputy Chairman and Member of the Board Nikolay Tsekhomsky said.
“Financing Russia’s infrastructure projects is one of VTB’s key business lines. We have considerable expertise in this area and are actively involved in major large-scale projects designed to enhance transport accessibility in Russian regions and develop Russia’s economy. The Vanino port is the first VTB’s project in the area of port infrastructure co-implemented with VEB.RF under the Project Financing Factory programme. We have plans to further participate in such projects as a financial partner,” First Deputy President and Chairman of the Management Board of VTB Bank Yuri Soloviev said.
The launch of the terminal is important not only for conveying Yakut coal mined and processed by Kolmar LLC, but also for addressing government-set goals of tackling the port capacity shortage of the Far Eastern Basin and expanding exports of Russian coal to the Asia-Pacific Region.
Being part of a large-scale investment project, the coal transshipment facility includes a marine terminal, a railway station, and infrastructure facilities including community facilities
It was also announced last week about the launch of a coal mine and a mining plant as part of an industry cluster to mine and process coking coal in the South Yakutia advanced development zone. The project was supported by the Far East Development Fund (VEB.RF Group). FEDF's four billion roubles worth of investment at the project’s initial stage provided considerable impetus for coal mining development in South Yakutia and helped the project initiator to raise additional bank financing.
Irina Makieva: it is Important to Combine the Efforts of Different Countries to Create the Best Urban Development Practices International Database
Different countries shall collaborate to improve the quality of life of citizens and to create an international library of best urban development practices, which will allow adopting best approaches in the transformation of territories. This was reported by VEB.RF’s Deputy Chairperson and MONOTOWNS.RF Director General Irina Makieva at the session Investment in Urban Development. Regional Economy during the Traditional BRICS Urbanization Forum.
“Improving the quality of life in cities and towns is an important agenda for most countries. Comfortable environment, clean water, modern transport – this is what people's desire to stay in their native territories depends on. Every country makes every effort to increase the level of comfort in cities year after year. It is very important to combine and replicate unique experiences. Creating an international library of best practices in urban development would be a great help,” Irina Makieva said.
During the session, Irina Makieva presented ongoing projects of VEB.RF and the Monotowns Development Fund, as well as support instruments, including non-financial, which the development institutions are ready to provide to cities and towns.
The Traditional BRICS Urbanization Forum was held online as part of the Russian Federation's BRICS presidency in 2020. The forum was dedicated to discussing a wide range of urban development issues and brought together reputable Russian and international experts, representatives of national and regional authorities, development institutions and specialised organisations.