VEB.RF to issue 50 bln rbl loans for 4 waste power plants

SOCHI, Feb 14 (PRIME) -- Russian state development bank VEB.RF, Gazprombank, and state industrial corporation Rostec’s unit RT-Invest have agreed on a 155 billion ruble construction of four waste-fired power plants in the Moscow Region, in which VEB.RF will contribute 55 billion rubles, VEB.RF said in a statement on Thursday.

The plants should be finished in 2021–2022, and the region’s power production will amount to 2.2 billion kilowatt-hours (kWh) after that. The plant’s waste processing capacities will amount to 2.8 million tonnes a year, or about 25% of the region’s waste production.

VEB.RF also quoted its First Deputy CEO Nikolai Tsekhomsky saying that the bank was considering 34 projects in infrastructure and city economics totaling 1.22 trillion rubles, of which VEB.RF’s participation should reach 359 billion rubles.

(65.6783 rubles – U.S. $1)

End