On Signing Agreement on Cooperation in Implementing the Project to Build the Gora Bychya All-Season Mountain Resort

17 september 2010 года
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As part of the 9th Sochi-2010 International Investment Forum, State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, the Government of the Republic of Buryatia, OJSC Special Economic Zones and LLC Gora Bychya (incorporated in the Group of Rusresort Companies) entered into an Agreement on Cooperation.

On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of Buryatia’s Government - by Chairman of the Government Vyacheslav Nagovitsyn, on behalf of OJSC Special Economic Zones – by its General Director Igor Kosov, on behalf of LLC Gora Bychya - by Authorized Representative Petr Shura, Rusresorts General Director.

The parties agreed to establish long-term, effective cooperation aimed at implementing the Project to Build the Gora Bychya All-Season Mountain Resort in the special economic zone of tourist and recreational type in the Baikal district of the Republic of Buryatia.

The implementation of this project would help to remove economic growth infrastructure restrictions and develop tourism infrastructure within the Baikal tourist macro-region.

The Bychya Gora All-Season Mountain Resort Project provides for a comprehensive development of the Gora Bychya mountain peak’s territory to build an all-season mountain international resort, which includes a hotel complex and a wide range of infrastructure.

 

Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: (499) 975-21-34
E-mail: press@veb.ru

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On Opening the Sochi Air Terminal Complex

16 september 2010 года
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A ceremony to open an air terminal complex of the Sochi International Airport took place in the city of Sochi.

State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ acted as a key creditor of the project. In 2009, Vnesheconombank and OJSC the Sochi International Airport signed an Agreement providing for Vnesheconombank to open a credit line for OJSC the Sochi International Airport for an amount of 5.7 billion rubles for a period of 10 years. The funds provided on the principles of project financing were intended for financing the construction of the air terminal complex as well as for refinancing the company’s debt to the federal budget as well as for repaying commercial banks’ credits raised earlier.

Under the Resolution of the Russian Government “On the Programme to Build Olympic Facilities and Develop the City of Sochi as a Mountain Climate Resort”, the Sochi International Airport Modernization Project was granted a status of Olympic facility.

OJSC the Sochi International Airport is incorporated in the aviation sector of Bazovyi Element Company. Since 2007 the airport has been managed by Bazel Aero. Bazel Aero was established in 2007 and is a company responsible for managing airports. The Sochi International Airport is among Russia’s ten largest airports and ranks as seventh by passenger flow.

 

Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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