On Commissioning the Second Stage of the Sochi Thermoelectric Power Station
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
On Making Payments On Government Foreign Currency-Denominated Bonds
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