On the decisions of Vnesheconombank’s supervisory board

18 мая 2017 года
#News
Назад


At its meeting on 18 May 2017, the Supervisory Board of Vnesheconombank considered extending a loan to AO Transholdleasing to deliver a project on the acquisition and leasing of subway cars to the Moscow Metro under a life cycle contract (LCC-2) using resources from the National Wealth Fund (NWF). The project provides for the delivery of 768 subway cars manufactured at OAO Metrovagonmash to the Moscow Metro in 2017-2020. The contractor will also provide maintenance services to the subway cars throughout their life cycle. The total value of the project is RUB 63.5 billion, of which RUB 38.3 billion will be financed out of the funds raised from NWF. The funds shall be repaid by the end of 2035. The project is to be carried out as part of the Moscow Government programme designed to renovate the obsolete electric train fleet on the operational lines of the Moscow Metro and develop the metro infrastructure to ensure high standards and top-flight service for Moscow passengers.

Using the NWF funds deposited with Vnesheconombank, the Bank already extended financing for the first project on subway cars under a similar life cycle contract at the end of 2016.

The Supervisory Board also considered extending a RUB 14 billion loan to AO AHML. The bulk of the funds will be allocated to finance rental market development programmes.

Furthermore, the Supervisory Board considered setting up OOO VEB Innovations to promote the National Technological Initiative (NTI) and digital economy projects, attract co-investors, and facilitate the entry of Russian innovation companies into the global market. Transformation of the subsidiary into a limited liability company is primarily attributed to VEB’s focus on rapid development and innovative areas, including blockchain, marketplace, and quantum and convergent technologies. VEB Innovations have already selected three ambitious projects eligible for financing, all of which fall under the following NTI categories: AeroNet (distributed unmanned aerial vehicle systems), EnergyNet (distributed power generation from personal power to smart grid and smart city), and HealthNet (personalized medicine).

Furthermore, a decision was taken to establish an audit committee under the auspices of the Supervisory Board. The committee is designed to help the Bank’s supreme collective body to efficiently exercise control over VEB’s financial and business operations. The Russian Minister of Finance Anton Siluanov is to head the committee, which will comprise members of the VEB Supervisory Board, federal government officials, and expert community representatives.

The Supervisory Board adopted a number of corporate decisions, in particular, allowing an increase in the authorized capital of the Russian Export Center (REC, VEB Group) with a view of developing its regional and global network and boosting lending to exporters. It has been also decided to expand REC’s authority in terms of subsidizing the participation of Russian manufacturers in foreign exhibitions and delivering strategic projects to promote exports, specifically, the national export brand “Made in Russia”.

Still another item on the agenda was Vnesheconombank’s corporate-wide performance ratio system for the year 2017. Presented for approval by the Supervisory Board was a list of KPIs together with their weighting factors, and the method for determining and assessment to be used for end-of-year bonus payments to VEB employees. When developing its KPI system, the Bank was guided by basic approaches to the identification of KPI lists and weighting factors approved by the Supervisory Board in March 2017.

And, finally, the Supervisory Board addressed a number of personnel issues. A decision was taken to appoint Svetlana Yachevskaya as Deputy Chairman of Vnesheconombank – Member of the Management Board. Presently, Svetlana Yachevskaya holds the office of Director of Legal Department at the Russian Ministry of Finance. At Vnesheconombank, Svetlana will coordinate operations related to the functions of the agent for the Government of the Russian Federation, internal and sovereign debt, financial assets of the Russian Federation, and legal groundwork for financial asset management.

Vladimir Shaprinskiy was relieved from the office of Member of the Management Board but retained his position as Chief Accountant of Vnesheconombank.


Press Office
E-mail: press@veb.ru

Назад

VEB to introduce Russian innovation development concept at SPIEF’17

17 мая 2017 года
#News
Назад

In conjunction with the St.-Petersburg International Economic Forum 2017, Vnesheconombank will introduce its principal focus areas for promoting Russian innovations.

In compliance with its Strategy 2021, VEB intends in the coming years to increase its participation in rapid-development projects by encouraging investments in those innovative areas where Russia can become a global leader. These include blockchain, quantum and convergent technologies, etc.

At SPIEF’17, VEB holds a panel discussion ‘The Explosive Impact of Blockchain Technology’, which is to take place on June 2 from 9:45 to 11:00. Intended participants include First Deputy Prime Minister Igor Shuvalov, Chairman of Vnesheconombank Sergey Gorkov, Founder of Etherum Vitalik Buterin, Founder and CEO of BitFury Group Valery Vavilov, and Co-Director and President of The M&A Advisors David Fergusson.

The participants will discuss the prospects and risks of blockchain adoption in Russia, the practical potential of the technology in terms of business tasks and the public governance system.

“VEB has everything it takes to fill the niche of a bank for development of Russian innovations. We are ready to finance innovation and NTI projects at the start-up stage of production and service development, as well as support such projects at the stage of business scale-up. This is exactly the idea we intend to elaborate at the forthcoming forum. Blockchain will be the primary focus of our discussion, which is to comprise global leaders and industry experts. Blockchain can substantially improve the quality of governance both in business and public agencies”, Chairman of Vnesheconombank Sergey Gorkov said.

VEB’s stand will have the ‘Investment in Russia’s Future’ display, including innovative solutions and technologies of Russian companies. In particular, VEB’s partners will present Russian inventions in space technologies, medical science, robotics, thin-film materials, communications, etc.

The St.-Petersburg International Economic Forum (SPIEF) has been held since 1997. Since 2006, it has been held under the auspices of the President of the Russian Federation, who has also attended each event. Over the past period, the Forum has become a leading global platform for representatives of the business community to meet and discuss key economic issues facing Russia, emerging markets, and the world as a whole.

The 20th St.-Petersburg International Economic Forum will take place from 1 to 3 June 2017. It has a much more eventful programme as compared to previous years: even now, it includes 108 business events.

The programme is based on four pillars. The first block, Dynamics of the Global Economy, focuses on the global agenda and economy. The second one is devoted to the Russian economic agenda. The third block comprises sessions on new technologies, which are already changing the ordinary course of life. And the last block views human capital as the key vector of development.


Press Office
E-mail: press@veb.ru

Назад

The Bank for development to celebrate 10th anniversary

17 мая 2017 года
#News
Назад

Dear friends and colleagues!


The 17th of May is a very special day for our corporation. Established in 1924, Vnesheconombank (VEB) is one of the oldest financial institutions in Russia. However, exactly ten years ago the Federal Law On the Bank for Development was signed, marking a new milestone in the history of Vnesheconombank. The Bank was assigned the ambitious and challenging task of facilitating the modernization of the national economy and its transition to an innovative path of development.

Russia’s economy has received Vnesheconombank’s unwavering support. Major investment projects designed to remove infrastructural constraints and promote the integrated development of Russian regions and high-technology industries have been launched with the participation of Vnesheconombank. This entails dozens of projects in infrastructure, nuclear industry, engineering, iron and steel, defense, space and telecommunications, IT, medical equipment, and pharmaceuticals. Our portfolio comprises loans to support brands that are household names for Russian citizens.

Overall, the Bank participated in 200 projects over the past ten years, with funds extended by Vnesheconombank for the delivery of projects totaling RUB 1.6 trillion.

Today, the Bank is going through the process of large-scale revamping and improvement, perhaps, the most significant in the past ten years. The changes affect every employee and every facet of our corporate life. The challenges VEB is facing today are much greater than a decade ago. The country needs the support, ideas, expertise, leadership and energy of each and every one of us. The revamped Vnesheconombank – VEB 2.0 – is a federal centre of competence designed to accumulate and promote state-of-the-art knowledge and technologies crucial for Russia. VEB 2.0 is to become a strategic national centre for project management and higher labour productivity. It will provide the business and government with innovative solutions in accomplishing priority tasks, aggregate private and public resources and create new opportunities for the participants in the partnership.

First and foremost, Vnesheconombank’s new task will call on each of us to further develop our own inner potential. The Bank and the country need our initiative, responsibility, creativity and commitment to national interests.

When working on Vnesheconombank’s corporate values we identified patriotism as integral to our goals. I know of no other institution in the world where patriotism is a corporate value.

I do believe that this is for a reason, as personal involvement in upholding a strong belief in this country and its people will help us accomplish the objectives we have set. It will also go a long way in securing the well-being and prosperity of Russia for the future!

Congratulations!

Sergey Gorkov
Chairman of Vnesheconombank

Назад

Top regions to participate in Vnesheconombank’s new project revealed

12 мая 2017 года
#News
Назад

Vnesheconombank continues to select certified managers in Russia’s 23 pilot regions in the context of its new regional model. To date, most of the applications have been received from Moscow, Leningrad Region, Buryatia, Karelia and Novgorod Region.

VEB’s new regional model will enable the direct linking of business ideas in Russian regions with Vnesheconombank’s financial resources and provide the impetus for rapid economic development in Russia’s constituent entities.

“We are receiving applications from regional development institutions, regional branches of the Russian Chamber of Commerce and Industry, business professionals, manufacturers and entrepreneurs. These are people committed to enhancing the investment appeal of their regions and eager to learn and work to achieve this objective’, Deputy Chairman of Vnesheconombank, Member of the Management Board and the Project Curator Alexey Ivanchenko commented. “When selecting managers, we give preference to candidates with an extensive contact base and an insight into the economic environment of their regions. These should be people knowledgeable about project finance tools, in particular, for the projects enjoying support from both regional authorities and the federal government. In early June, we expect to meet with the selected managers and introduce them to governors and the business community in the regions. The first meeting is to take place in the Novgorod Region and then, in other pilot regions”.

In each region, VEB is to select up to three regional managers, who will then identify and screen investment projects in their respective regions. To ensure speedy application processing and decision making, managers will interact with VEB and project initiators online, based on the Development Project Factory platform.

The selection of candidates for VEB’s certified managers in the pilot regions will continue for another two weeks, until May 26. Applications for participation are to be filed via a specialized LEADER-ID platform.

State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” is a national development bank and one of the largest financial institutions in Russia. Established in 1924, Vnesheconombank has been operating in compliance with a special Federal Law on the Bank for Development since 2007. Vnesheconombank’s supreme governing body is the Supervisory Board headed by the Chairman of the Russian Government Dmitry Medvedev.

In compliance with the Strategy 2021, VEB will focus on the financing of projects in downstream industries, infrastructure development, promotion of non-resource exports and conversion of the defense industry to civilian products, support for innovations and the National Technological Initiative projects. Seeking to operate at a whole new level of efficiency, VEB will proactively look for projects meeting government priorities, perform in-depth analysis of business projects in cooperation with its customers, attract private co-investments, and monitor project progress based on cutting-edge technologies.
http://www.veb.ru

LEADER-ID is ASI’s information platform for the search, development and promotion of leaders. The platform is scheduled to begin operation in July 2013. The number of users exceeds 87 thousand.
http://leader-id.ru


Press Office
E-mail: press@veb.ru

Назад

VEB to hold blockchain discussion at SPIEF’17

11 мая 2017 года
#News
Назад

VEB 2.0 is to hold a session entitled ‘The Explosive Impact of Blockchain Technology’ with the participation of government officials and Russian and foreign business professionals on the sidelines of the St. Petersburg International Economic Forum.

Currently, as part of the ‘Digital Economy’ government programme development, VEB 2.0 is formulating its proposals for the use of blockchain technology in the Russian public governance system and economy. The work has come as a part of measures to accomplish the tasks set in the Presidential Address to the Federal Assembly.

The Bank proposes to carry out pilot projects on the introduction of blockchain in the Federal Service for State Registration, Cadastre and Cartography (Rosreestr) and the National Pension Fund (NPF). Furthermore, the Bank is developing approaches for an in-house use of the technology: in trade finance transactions and investment project management.

“A few years ago, hardly anyone in Russia was talking about blockchain technology. Today, we are discussing its adoption at the federal level so that this innovation could alter the principles of business, the governance system, and services to the general public. How prepared are our institutions to introduce blockchain? What are the restrictions? Are our resources sufficient? These and other issues will be addressed at the session to be held by the Bank on the sidelines of the St. Petersburg International Economic Forum, Chairman of Vnesheconombank Sergey Gorkov said.

Blockchain is a distributed database that contains information on the transactions effected by the participants. A copy of the common ledger of all transactions is kept by all participants thus creating a distributed environment for trusted electronic collaboration.

Divided into blocks, all information represents a ‘chain of blocks’ so that is impossible to alter such information or penetrate the system without the knowledge of other participants.

Blockchain technology can help substantially reduce the time required for public services, streamline the operational function of government agencies, release employees from routine procedures to save time for more intellectual activities, and enable greater transparency in relations with the government.


Press Office
E-mail: press@veb.ru

Назад

VEB Extends the First Selection Stage for Certified Managers in Russian Regions

2 мая 2017 года
#News
Назад

Vnesheconombank has extended the first selection stage for certified managers in the Russian regions until May 26, 2017. The decision was taken following the results of discussions between Aleksey Ivanchenko, Deputy Chairman of Vnesheconombank, Member of the Management Board and the Bank’s curator of the project, and candidates for managers at the online briefing entitled “VEB’s New Regional Model”.

During the online webcast joined by over 100 potential candidates for VEB certified managers from various Russian regions, Aleksey Ivanchenko detailed the milestones of Vnesheconombank’s initiative aimed at launching a new mechanism for delivering investment projects in the Russian regions, and answered live questions from the candidates.

The acceptance of applications commenced based on the specialized LEADER-ID platform of the Agency for Strategic Initiatives (ASI) and was due to close on April 30, 2017. However, in response to numerous requests from regional participants, the deadline has been extended. “We are extending the initial application period until May 26,” Aleksey Ivanchenko said at the briefing, “and we are committed to select up to three candidates from each of Russia’s 23 pilot regions as early as the beginning of June and present them as the managers we are ready to train and certify.”

Certified managers will identify and screen investment projects in their respective regions. It is expected that the managers will interact with VEB online to ensure speedy application processing and decision making. “A certified manager’s task is to find a project and help the project initiator to properly wrap it up,” Aleksey Ivanchenko explains, “and in future to assist in bringing together the various support tools offered by regional governments or regional development corporations to enhance the business model, as well as guiding the project through a more thorough assessment together with a business unit within Vnesheconombank. It will ensure the necessary synergy, which is often lacking.”

Speaking of the competencies the potential candidates for certified managers should have, Vnesheconombank’s deputy chairman stated, “We are looking for people with a significant regional contact base, who are experienced in working on priority projects which have support from regional authorities and the federal government. These should be people who are very familiar with project finance tools, because Vnesheconombank, as an agent of development, seeks to increase its project finance share to 90%.”

Answering questions about possible motivation of the certified managers, Aleksey Ivanchenko said that personal interviews with the candidates will involve discussion of both financial and non-financial incentives.

As to which regional initiatives may be eligible for financial support under the project, Vnesheconombank’s deputy chairman explained that the VEB 2021 Strategy defines five priority investment areas, including infrastructure, production sector, defense industry conversion to civilian products, National Technological Initiative projects, and export. In accordance with the current Memorandum on Financial Policy of Vnesheconombank, to be eligible for consideration, a project must have a value of at least RUB 2 billion and a payback period of five years and more.

At the initial stage, the project comprises 23 pilot regions of the Russian Federation (the list is available at the LEADER-ID website). VEB aims to extend the project over the entire territory of the Russian Federation before the end of 2017. After May 26, the candidates for certified managers in the pilot regions will be selected and, starting from June 1, the candidate selection procedure is expected to be launched in the remaining regions. The Development Project Factory on-line platform for investment project appraisal is scheduled to become operational in August. By September, certified managers are to start using the platform by uploading projects and exercising their judgment. By the end of December 2017, the Development Project Factory will operate in its standard mode with users to be connected from across the Russian Federation.

State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” is a national development bank and one of the largest financial institutions in Russia. Established in 1924, Vnesheconombank has been operating in compliance with a special Federal Law on the Bank for Development since 2007. Vnesheconombank’s supreme governing body is the Supervisory Board headed by the Chairman of the Russian Government Dmitry Medvedev.

In compliance with the Strategy 2021, VEB will focus on the financing of projects in downstream industries, infrastructure development, promotion of non-resource exports and conversion of the defense industry to civilian products, support for innovations and the National Technological Initiative projects. Seeking to operate at a whole new level of efficiency, VEB will proactively look for projects meeting the government priorities, perform in-depth analysis of business projects in cooperation with its customers, attract private co-investments, and monitor project progress based on cutting-edge technologies.

The Agency for Strategic Initiatives (ASI) is a Russian autonomous non-commercial organisation established in 2011 by the Government of the Russian Federation to implement a set of economic and social measures. ASI facilitates priority projects, and undertakes various initiatives designed to enhance the business environment in Russia and promote professional development, etc.

LEADER-ID is ASI’s information platform for the search, development and promotion of leaders. The platform is scheduled to start operation in July 2013. The number of users exceeds 87 thousand.


Press Office
E-mail: press@veb.ru

Назад

Vnesheconombank published consolidated financial statements of the VEB Group for the twelve-month period of 2016 as prepared in compliance with IFRS

28 апреля 2017 года
#News
Назад

Vnesheconombank published consolidated financial statements of the VEB Group for the twelve-month period of 2016 as prepared in compliance with IFRS.

“Last year was a year of laying solid foundation for further stages of the three-year transformation plan of the Group. Major tasks of the anticrisis management stage were maintaining VEB’s activity as a main development institute of Russia and timely fulfillment of its obligations, and they were accomplished. In spite of the fact that it was a pretty difficult year for us, we completed it with a better result than expected previously with regard to P&L and liquidity”, First deputy Chairman Member of the Board Nikolay Tsekhomskiy said.

The VEB Group’s key performance indicators are as follows:

  • In 2016 the VEB’s Group equity increased by RUB 74.9 billion (+15.6%) to reach RUB 555.7 billion as at 31.12.2016. VEB’s capital adequacy ratio (RAS) as at 31.12.2016 amounted to 11.6%.
    • Alongside with the subsidies from the federal budget provided in 2016 in the amount of RUB 150 billion as compensation of costs related to servicing foreign capital markets borrowings,
    • the increase in capital is also attributable to the previous recognition as additional paid-in capital of subsidies in the total amount of 13.8 billion to the Bank’s subsidiaries (the Fund for Development of Far East region, Russian Export Centre, North Caucasus Development Corporation);
    • positive balance of an unrealized revaluation of securities also had a positive effect on the VEB’s equity.
  • When auditing the VEB Group’s assets in 2016 the Group took a conservative approach to its provisioning policy. Provisioning for the loan portfolio reached RUB 488.7 billion which affected both the net loan portfolio of the Group and its financial results for 2016 (a loss of RUB 111.9 billion).
    However provisions in the amount of RUB 182.9 rubles (out of RUB 488.7 billion) were made for the assets which restructuring lead to recognition of the respective gain in other operating income due to IFRS specifics.
    On the whole the Group performed large-scale work on the loan portfolio which not only resulted in its quality improvement but also brought net interest income increase by 33% to RUB 89.1 billion.
  • The VEB Group’s assets decreased by RUB 809.0 billion (-18.5%) to RUB 3 573.4 billion. It was mainly caused by a RUB 675.8 billion (-26.2%) decrease in the customer loan portfolio to RUB 1 904.5 billion mostly due to a stronger ruble and corresponding revaluation of loans denominated in foreign currency.
  • Total liabilities went down by RUB 883.9 billion (-22.7%) to RUB 3 018 billion due to a decline in the amounts due to credit institutions and the Government and the Bank of Russia in the total amount of RUB 528 billion. Inter alia loans and other placements from OECD-banks were repaid at a high pace, decreasing drastically by 49.5% to RUB 211.3 billion. The ruble strengthening also led to a decrease in foreign currency-denominated liabilities.
  • The Group reached a comfortable liquidity position by the end of 2016, with the following factors contributing:
    • 8.7% growth in cash and cash equivalents to RUB 350.1 billion;
    • 20.3% growth in investment financial assets available for sale to RUB 470.3 billion;
    • 35.1% growth in amounts due from banks and treasury to RUB 92.3 billion.

In 2016 a new development Strategy 2021 was adopted. The Group focused its efforts on streamlining and aligning systems and processes to the VEB’s strategy and values. A centre of expertise and project financing is being elaborated on the basis of for further development of the real sector of the Russian economy.


Пресс-служба ВЭБ
E-mail: press@veb.ru

Назад

VEB’s Project Financing Factory Discussed by the Collegium of the Ministry of Economic Development

24 апреля 2017 года
#News
Назад

The meeting of the Collegium of the Ministry of Economic Development of the Russian Federation considered the establishment of a project financing factory and a centre of competencies for project management of projects under the aegis of Vnesheconombank.

At the moment, the banking sector is giving up project financing (in most cases its share makes 10-15% of the portfolio) and focusing on the investment crediting of existing businesses. At the same time, in VEB project financing exceeds 90% of its portfolio, and the bank is actively developing industry expertise.

“It is important for us to attract investors at the stage of participation into the capital. Syndication will allow market participants to obtain sufficient funds for project financing. Of importance are also the interest rate subsidy mechanism, qualitative selection of projects at the very start and qualified industry expertise,” noted Chairman of Vnesheconombank Sergey Gorkov speaking at the meeting of the collegium of the Ministry of Economic Development.

The proposed project financing model envisages a syndication of 80/20, where 20% is equity capital and 80% borrowed funds, syndicated through tranches to reduce the risks for the project participants.

The operational scheme of the project financing factory involves several steps: the centre of competence performs a marketing analysis and helps in the development of the business model; the structuring centre creates the optimal structure of the transaction and the mechanism and the syndication mechanism; the monitoring centre monitoring the performance of the loan agreement and the situation on the market, and assists in updating the financial model and the business plan.

The collegium also discussed the topic of the management quality, the problem of which is a consequence of the shortage of efficient management teams, underestimation of risks, insufficient project development, failures to deliver on time and budget deficit.

“On the basis of VEB, we will create a centre of competence which will consolidate educational and consulting services. It will accumulate the most advanced knowledge on project management and the organization of production processes, provide it to the business and promote the services for the improvement of the quality of projects, - Sergey Gorkov said. - It is important to create the mechanisms that will motivate the business to increase labour productivity. These may be the standardization, certification, ranking and government subsidies to the enterprises committed to the increase of productivity.”

At the moment, VEB is changing its pattern used for working with provinces on the selection of new investment projects, introducing an institute of certified managers.

“We have changed our approach together with the Agency of Strategic Initiatives. They have a good personnel selection mechanism, and we have added our profile there and announced the contest in the provinces. These managers will make primary selection of projects in accordance with our strategy, rules and requirements. The funnel will become wider, and the time of project review will reduce by 2-3 times. Before the end of the year managers will appear in all regions,” added Sergey Gorkov.


Press Office
E-mail: press@veb.ru

Назад

VEB and Government of Krasnoyarsk Territory Join Efforts to Develop the Forestry Industry in the Region

22 апреля 2017 года
#News
Назад

VEB signed a cooperation agreement with the Government of the Krasnoyarsk Territory aimed, among other things, at joint development of the forestry industry. The document was signed by the governor of the Krasnoyarsk Territory Viktor Tolokonsky and VEB’s Chairman Sergey Gorkov.


The agreement envisages close interaction between the region and the Bank in the social and economic development of the region, encouragement of investment in promising projects, closer cooperation in the development of the forestry industry of the Krasnoyarsk Territory.

With the support of VEB, the region is implementing in total 6 projects in the wood processing industry, the smelting industry and energy infrastructure with a total value of more than 250 billion rubles (VEB’s investments being 160 billion rubles). Implementation of the projects involves the creation of almost 4.5 thousand new jobs.

“We are grateful to VEB for the initiation of a major project in Boguchansky district and intend to make a new step in the development of this project for the added-value wood processing,” Viktor Tolokonsky noted.

“The Krasnoyarsk Territory boasts a huge resource base. We are ready to consider projects in all strategic industries meaningful for the Government. Now our attention is focused on the establishment of a single integrated infrastructure for logging and value-added wood processing. Great challenges in this respect are faced by our company JSC Kraslesinvest,” - Sergey Gorkov noted.

VEB’s Strategy 2021 envisages priority financing of projects in the infrastructure, high technologies, export support, conversion of defence industry companies to civilian production and the downstream industry.


Press Office
E-mail: press@veb.ru

Назад

VEB Presented Project for Construction of New Pulp Mill in the Krasnoyarsk Territory

22 апреля 2017 года
#News
Назад

Vnesheconombank presented a pulp mill construction project at the Krasnoyarsk Economic Forum. The new mill will become part of the timber industry complex in Boguchanovsky district in the Krasnoyarsk Territory.

The construction will be carried out on the ground of JSC Kraslesinvest, a member of VEB Group. The level of investment in the creation of the entire complex will be about 1.5 billion US dollars. The total duration of the project with all its stages will be 4 years.

The production will be based on advanced sulphate pulping technologies, subject to existing environmental safety requirements. The mill is expected to process up to 4.3 million cubic metres of wood of coniferous and deciduous trees and produce up to 750 thousand tonnes of pulp.

The mill will make it possible to process the wood supplied by logging operators from a vast region - within a radius of nearly 300 kilometres.

“The RF Government is paying a great deal of attention to the integrated development of the Lower Angara region. This project is a part of it. The largest forest reserves of the region, the proximity of the necessary water and energy resources, availability of qualified labour and infrastructure provide the most favourable conditions for this,” noted Deputy Chairman of the Government of the Russian Federation Arkady Dvorkovich.

“There is no similar project in the Krasnoyarsk Territory. Our task is to recycle industrial wood waste. The mill will allow us to solve it,” said Governor of the Krasnoyarsk Territory Viktor Tolokonsky.

“The new pulp mill will increase the profitability of the existing production facilities of the forest industry company Kraslesinvest through the output of high margin products. Besides, we are now considering the production of more downstream products - rayon fibre,” - commented Chairman of Vnesheconombank Sergey Gorkov.

JSC Kraslesinvest is the largest wood processing project in the Krasnoyarsk Territory. The factory was established in 2007 on the initiative of Vnesheconombank as a part of the program “Integrated Development of the Lower Angara Region”. (100% of shares of JSC Kraslesinvest are owned by Vnesheconombank.

The construction of the wood-sawing complex was completed in 2016 (commissioning of the wood-sawing complex took place in July, and the drying and sorting facility was put into operation in November). All production processes are automated and meet high environmental requirements.


Press Office
E-mail: press@veb.ru

Назад

VEB Discussing Establishment of Russian Centre for Project Management and Process Organization

22 апреля 2017 года
#News
Назад

Chairman of Vnesheconombank Sergey Gorkov took part in the plenary meeting, “Russian Economy: Agenda 2017-2025” at the Krasnoyarsk Economic Forum. In his speech he referred to VEB’s practice in the transition to advanced management and transformation models in VEB 2.0.

The global trends in modern management imply value-based management, leadership, personal growth and talent development, evolution of strategies, control of emotions for the solution of business problems, empathy in contacts with customers, flexible management methods and the building of 2D organizations. These principles underpin the transformation of VEB 2.0.

The Bank’s development strategy is based on Design Thinking with customers and the Government, in particular, on supporting the Government’s key priorities in the economy, building a transparent process of customer interaction and reducing the time required for the processing of applications.

VEB is focused on investments in advanced development. The Bank will support innovations and projects of the National Technological Initiative, the conversion of the defence industry to downstream civilian production, block chain development, NBICS technologies, projects in space and the creation of infrastructure for new technologies.

For the implementation of the key challenges of the strategy the Bank has created cross-functional teams (including such challenges as working with provinces, defence industry diversification, block chain, the new investment process, project management, team transformation, etc.).

“We are now discussing the establishment of a centre of competencies for project management and organization of production processes within VEB 2.0. A centre of competencies is not only storage and analysis of data, but also promotion of services. We want to create a Marketplace, which will deliver knowledge to business for improving the quality of projects and processes. This year, we are able to create such Marketplace in an electronic form,” Sergey Gorkov noted.




Press Office
E-mail: press@veb.ru

Назад

Электронный офис клиента в разработке

Закрыть
Написать письмо
Не заполнены следующие обязательные поля: Ваше имя
Не заполнены следующие обязательные поля: Ваш e-mail
Не заполнены следующие обязательные поля: Ваше сообщение
Не заполнены следующие обязательные поля: Я соглашаюсь на обработку персональных данных
Ваше сообщение отправлено.
Оставить отзыв

Нам важно знать ваше мнение о банке, чтобы сделать нашу работу еще лучше

Не заполнены следующие обязательные поля: Ваше имя
Не заполнены следующие обязательные поля: Ваша организация
Не заполнены следующие обязательные поля: Ваш e-mail
Не заполнены следующие обязательные поля: Ваше сообщение
Не заполнены следующие обязательные поля: Я соглашаюсь на обработку персональных данных
Ваше сообщение отправлено.
Для повышения удобства работы на сайте используются файлы cookie. Cookie - файлы, содержащие информацию о предыдущих посещениях веб-сайта. Вы можете запретить использование cookie в настройках браузера.