On Signing a Credit Agreement between Vnesheconombank and the China State Development Bank

State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the China State Development Bank (the CSDB) entered into a Credit Agreement for an amount of 310million US dollars.

On behalf of the Russian side the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of the Chinese side – by CSDB Board Director Chang Yuan.

Under the Agreement, funds being made available to Vnesheconombank are intended for financing the project to build a cement factory in the city of Slantsy of the Leningrad region. The project provides for setting up a full cycle production of quality cement with a total capacity of 1.86 million tons of cement per year.

The implementation of the project would make it possible to cut down production costs by way of employing unique technological equipment with the use of slate production waste as a raw material. The employed modern cement manufacturing technology provides for resource saving and reduced power consumption as well as for improving the ecological situation in the Slantsevyi district of the Leningrad region. The factory’s construction would help create at least 450 new jobs.

The project is being implemented by the LSR Group which is the largest developer and manufacturer of construction materials in the North-West Federal District in the North-West Federal District.

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

Latest News Vnesheconombank Supervisory Board Approves Subordinated Loan to Alfa-Bank ORGRESBANK has been issued with new articles of association and new license ORGRESBANK is among the arrangers of a syndicated loan for Lukoil OJSC Bank of Russia became a member of Committee on Payment and Settlement Systems Attention please: on August 22, technical re-equipment will be held in Sovetskoe branch in St Petersburg On Agreement between Vnesheconombank and OJSC Ilyushin Finance Co. On Signing Memorandum Between Vnesheconombank and Region-Avia Airline ORGRESBANK provides 50 mln USD credit facility to SNOS JSC New service for BSGV clients: travel insurance On Signing Agreement between Vnesheconombank and Macquarie Renaissance Infrastructure Fund L.P.

On Signing Agreements between Vnesheconombank, OJSC Sukhoi Company and CJSC Sukhoi Civil Aircraft Under the Agreement the parties intend to cooperate in raising funds to finance promising investment programs carried out by CJSC Sukhoi Civil Aircraft, expanding financing of the Sukhoi Superjet 100 program and in putting in place a competitive mechanism for financing sales of Sukhoi Superjet 100 aircraft on domestic and foreign markets. [Read...]