On Financing the Vanino Coal Terminal Construction Project

28 december 2009 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ has started to finance the Vanino Coal Terminal Construction Project with a capacity of 12 million tons per year in the bay of Muchka at the port of Vanino (the Khabarovsk region). The port of Vanino is designed to transship coal from the Siberian Coal Energy Company’s coal deposits as well as from other companies to export it to the Asian-Pacific region countries.

Vnesheconombank provided the first tranche of its credit line in the amount of 1.5 billion rubles to finance expenses of CJSC Daltransugol (a subsidiary of OJSC SUEK, the operator of the terminal under construction) on purchasing technological equipment and paying for the construction work done. In order to implement the project, Vnesheconombank and CJSC Daltransugol entered into an agreement on extending credit resources worth 4.5 billion rubles for a period of 10 years.

The Vanino Coal Terminal Construction Project is one of the largest investment projects both in the field of developing the Russian transport infrastructure and in the Far East as a whole.

After achieving its rated capacity Vanino will become the largest coal port in the Far East and the second largest port in Russia. The implementation of the project will make it possible to receive and handle vessels with a deadweight of more than 170 thousand tons.

 

Origin: 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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On Increasing Charter Capital

25 december 2009 года
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In accordance with Russian Government’s Instruction the Russian Finance Ministry made a contribution of 21 billion rubles to the charter capital of State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’.

At present, Vnesheconombank’s charter capital is 383.5 billion rubles.

 

Origin: 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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On Commissioning the Second Stage of the Sochi Thermoelectric Power Station

24 december 2009 года
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A ceremony of commissioning the second stage of the Sochi thermoelectric power station was held today. The power station expansion project was implemented by OJSC INTER RAO EES jointly with Vnesheconombank.

The total value of the project was about 5.1 billion rubles, with Vnesheconombank’s financing amount being 3.7 billion rubles.

The Sochi thermoelectric power station is one of the most modern and energy-efficient electric power stations in Russia. This project’s financing is in line with the Memorandum on Vnesheconombank’s Financial Policies in the field of energy infrastructure and implementation of projects aimed at enhancing energy efficiency.

The second stage of the Sochi thermoelectric power station is the first facility to have been commissioned as part of preparations for the 2014 Olympic Games. The Sochi thermoelectric power station is the most important facility to supply the city of Sochi with energy. It is included in the government program of constructing Olympic facilities and developing the city as a mountain climatic resort.

Vnesheconombank is one of the main creditors of the construction of Olympic facilities. Vnesheconombank has started to finance five Olympic facilities. The amount of credit resources extended to finance the said projects is more than 11 billion rubles.

 

Origin: 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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On Holding an Auction to Place Pension Savings Funds on Deposits in Credit Institutions

24 december 2009 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ announces that an auction to place pension savings funds on deposits in credit institutions is to be held on December 29, 2009.

Auction Parameters:

Date of deposit auction December 29, 2009
Period of placing funds 90 (ninety) days
Maximum amount of funds to be placed in credit institutions 13 500 million rubles
Date of placing funds December 29, 2009
Date of refunding funds March 29, 2010
Minimum interest rate on funds to be placed on deposits in credit institutions, % per annum 7.7 %
Minimum amount of one application 100 (one hundred) million rubles
Call for auction bids from 13.30 to 14.15
Determining cutoff rate or declaring bids selection process invalid from 14.15 to 14.45

 

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On Making Payments On Government Foreign Currency-Denominated Bonds

23 december 2009 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ in accordance with the terms of issuing Eurobonds and on the Russian Finance Ministry’s instructions made a payment for a total amount of 159 365 437.50 US dollars to pay interest on the 1998 Eurobonds.

The payment was made in a single currency. The funds were transferred to Citibank N.A., London Office.

The 1998 Eurobonds were issued for an amount of 2.5 billion US dollars for a period of 30 years with coupons to be paid twice a year.

 

Origin: 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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