VTB to finance construction of oncology centre in Russia
VTB Bank announced on February 14, 2014 that it is financing a public-private partnership (PPP) project to build an oncology centre in Orsk, Orenburg Region (Russia).
VTB has signed the financing agreement with the Orenburg regional government and ListPromStroy, the project's general contractor.
VTB will issue a seven year, 963 million ruble (US$27.3 million) loan to ListPromStroy.
In addition, the bank has issued the contractor a performance bond in favour of the customer the Orenburg Region State Publicly Funded Agency for Housing, Utilities and Social Construction for 133.5 million rubles (US$3.8 million) over a 2.5 year period.
Chaba Zentai, VTB Bank Management Board member, stated:
PPP is an effective form of financial cooperation between state and business that can address regional infrastructure problems in a targeted way. I am confident that the project will drastically improve the healthcare system and people's quality of life in the Orenburg Region.
Orenburg, a transcontinental city and an administrative center of Orenburg Oblast (Russia), is located on the Ural River. The city is 1,478 kilometers southeast of Moscow and very close to the border withKazakhstan. It has an approximate population of 550 000 people.
Country news
-
-
March 10, 2014
Ten consortia interested in Moscow - Kazan high speed line
The Moscow - Kazan high speed line project was presented to potential investors during an industry day that took place in Moscow on March 4th. The project is expected to get government approval during this month. Read more -
March 18, 2014
Russia to tender metro projects through PPPs
The Russian government plans to approve new legislation to allow the private sector to invest in metro projects including the construction of infrastructure and the acquisition of rolling stock. Read more -
March 20, 2014
Moscow announces toll road tender
The Moscow City Government has announced that it plans to start a tender process to build and operate a four-lane toll road from the business center Moscow City to the Moscow Ring Road and meet the M1 toll road bypassing Odintsovo. Read more -
April 09, 2014
Preferred bidder in place for Russia's Lena bridge PPP
Russia's Federal Road Agency, Rosavtodor, has awarded the tender process for the construction of a long-awaited multibillion dollar vehicular bridge across the Lena River in northeastern Siberia. Read more -
May 02, 2014
Vinci and VTB win Russia's highway PPP
Russia's Ministry of Transport has selected the Highway Two Capitals consortium as preferred bidder to develop the 543 km - 684 km section of Moscow - St. Petersburg toll road. Read more
