Rosneft and Vnesheconombank Sign Memorandum on Cooperation

4 february 2008 года
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On February 4, OJSC Rosneft and State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ signed a Memorandum on Cooperation.

The Memorandum provides for the two sides to jointly participate in carrying out projects aimed at developing infrastructure, innovations and diversifying business associated with the production and export of oil and deeply processed petroleum products.

Under the Memorandum Vnesheconombank is to conduct financial analysis of such Rosneft’s capital-intensive projects as the reconstruction of the Tuapse Reinery and the construction of an oil main pipeline from the Vankor field to Transneft’s system in the Yamalo-Nenets autonomous district (Purpe) and is to participate in working out schemes for raising funds to finance these projects.

Information:

The Vankor-Purpe oil pipeline is 543 kilometers long. It will connect the Vankor field in the Krasnoyarsk Territory to Trasneft’s system of main pipeline sin Western Siberia. This will allow to transport raw materials produced in Vankor to the Asian-Pacific region countries’ markets through the Western Siberia- Pacific Ocean oil pipeline. The implementation of the project would contribute to the Krasnoyarsk Territory’s economic growth, closer integration of its northern territories with the regional centers of economic development and increased inflow of private investments to related industries of the region.

The large-scale reconstruction of the Tuapse refinery carried out by Rosneft is basically the creation of a new high-technology oil refining facility with a capacity of 12 million tons of oil a year. The first stage of work is to be completed in 2010, the second stage – in 2012. After reconstruction is completed the Tuapse refinery will become one of the most state-of-the art refineries in the Russian Federation with a refining depth of 95%.

Commenting on the signing of the Memorandum Rosneft President Sergei Bogdanchikov said that the implementation of the projects provided for by the Memorandum would enhance national and global energy security. In his turn, Vnesheconombank Chairman Vladimir Dmitriev said that VEB was ready to lend its support for Rosneft’s projects provided that they were in line with the Memorandum on the Bank’s Financial Policy and added that the Bank would start work on their comprehensive expert’s examination in the near future.

 

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

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Vnesheconombank and Volgograd Administration Sign Agreement

1 february 2008 года
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Today, on February 1, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Volgograd Region Administration entered into an Agreement on Cooperation.

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and Volgograd Region Administration Head Nikolai Maksyta. The signing ceremony was held in the presence of Plenipotentiary Presidential Representative in the Southern Federal District Grigory Rapota.

This Agreement aims to establish strategic partnership and promote long-term, effective and mutually beneficial cooperation between the two sides in the investment business.

Under the Agreement the two sides are determined to cooperate in raising funds to finance projects aimed at fulfilling high-priority tasks of developing the region and enhancing its economic and industrial potential. Specifically, highly promising projects include those in manufacturing of building materials, transport infrastructure and agroindustrial sector. A list of high-priority projects is to be made annually on the basis of the region’s socio-economic priorities.

The implementation of the Agreement would help boost the region’s economic potential growth rate, its investment appeal and make the country’s economy more competitive as a whole.

 

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

 

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Vnesheconombank Chairman V. Dmitriev took part in an exit session of the Council for the Development of the Timber Industrial Complex under the Russian Government in Syktyvkar.

29 january 2008 года
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Vnesheconombank, Komi Government and Russia’s Union of Timber Industrialists and Timber Exporters Enter into Agreement

29 january 2008 года
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Today on January 29, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, the Government of the Komi Republic and Russia’s Union of Timber Industrialists and Timber Exporters entered into a Memorandum on Cooperation in Carrying out the Udorsk Pulp-and-Paper Mill Construction Project in the Komi Republic.

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev, Rusian Union of Timber Industrialists and Timber Exporters President Miron Tatsyn and Komi Republic Head Vladimir Torlopov.

The three sides are determined to cooperate to carry out the Udorsk Pulp-and-Paper Mill Construction Project in the Komi Republic. The Project’s expected investment value is 40 231 million rubles. The Mill’s construction period is 4 years from the start of project design work. It is expected to reach its full design capacity in 2014. The Project provides for building a production facility to manufacture competitive deeply processed wood products such as coated and metallized paper, label paper and paperboard. The Mill is to be designed in accordance with the most modern environmental safety requirements.

Under the Agreement Vnesheconmbank is to consider the possibility of conducting comprehensive expert examination of the project and participating in working out a scheme for financing it.

Vnesheconombank’s participation in implementing this Project is in line with the principles, main lines, and industrial priorities of Vnesheconombank’s investment activity stipulated in the Memorandum on Vnesheconombank’s Financial Policy.

The implementation of the Project will drastically reduce the export of unprocessed wood from the region and will help:

  • address the region’s social problems by way of building social infrastructure facilities and creating additional jobs;
  • raise people’s incomes and living standards in the region;
  • reduce the import of pulp-and-paper products;
  • expand businesses involved in building the pulp-and-paper mill from other industries.

Thus the construction of the Udorsk Pulp-and-Paper Mill will not only contribute to the development of the Komi Republic’s economy but also will result in implementing the measures adopted by the Russian Government in the field of timber processing aimed at increasing the share of high value-added products (deeply processed wood) and boosting the timber processing industry’s investment appeal.

 

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

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Vnesheconombank and BNP Paribas Entered into Agreement

28 january 2008 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and French Bank BNP Paribas entered into an Agreement on Cooperation in implementing Kyoto Protocol provisions aimed at developing conservation policy and preventing climate change.

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and BNP Paribas Director Simon Dent.

The Agreement provides for promoting cooperation between Vnesheconomban and BNP Paribas upon selecting, examining and preparing projects aimed at creating favourable conditions for developing, implementing and spreading ecologically safe technologies.

 

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

 

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