VEB.RU meets with China Development Bank, Silk Road Fund

MOSCOW, Sep 12 (PRIME) -- Russia’s state development bank VEB.RF held meetings with the China Development Bank (CDB), the Silk Road Fund, the Export–Import Bank of China and potential business partners during its road show in Beijing on August 20–21, First Deputy CEO Nikolai Tsekhomsky told PRIME in an interview on the sidelines of the Eastern Economic Forum released on Thursday.

The meetings were “very useful… We clearly understand that we need to change the format of cooperation and start discussing certain projects with not only financial institutions, but also the leading companies of the Asia–Pacific Region. We have a plenty of quality projects, we have a lot to show and to suggest. We will keep working,” Tsekhomsky said.

VEB.RF sees the development of Russia’s Far East among the top priorities. The bank has funded the construction of airports in Vladivostok and Khabarovsk and plans to participate in building of at least nine more airports in the region.

Tsekhomsky mentioned joint investment with VTB Bank in the Nakhodka mineral fertilizer plant among the most important agreements signed at the Eastern Economic Forum 2019. The deal was designed under the Project Financing Factory. The first stage of the facility will have a capacity of 1.8 million tonnes of methanol annually, and the products will be almost 100% exported to Asian states.

VEB.RF also signed an agreement on investing 150 billion rubles in four plants to process up to 30% of solid wastes in Moscow and the Moscow Region. The facilities will use equipment of Swiss–Japanese company Hitachi.

Tsekhomsky also said that VEB.RF’s Project Financing Factory retains its plans to issue bonds under a 294 billion ruble bond program, registered in May, until the end of 2019.

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