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VTB Bank signs cooperation deal with Khabarovsk Territory government

26 September 2012

VTB Bank signs cooperation deal with Khabarovsk Territory government  @ RIAN, Alexander Kryazhev

VTB Bank has signed a cooperation agreement with the government of the Khabarovsk Territory. The deal was signed by Khabarovsk Territory Governor Vyacheslav Shport and Mikhail Oseevskiy  Deputy President and Chairman of the Management Board of VTB Bank.

The agreement calls for cooperation in the development of the region’s transport, engineering and other infrastructure, as well as projects based on public-private partnerships in the Khabarovsk Territory.

At the meeting, the bank gave a presentation to the governor on VTB’s experience in development projects such as Pulkovo Airport and the West High-Speed Bypass in St. Petersburg which were implemented through public-private partnerships, and which could be useful for the Kabarovsk Territory. In particular, VTB is considering the possibility of participating in the construction of an eastern bypass motorway in Khabarovsk.

The government of the Khabarovsk Territory estimated the project would cost around 16 billion roubles. As a public-private partnership, 20%-25% of the funding would be provided by federal and regional governments, while private investors would be expected to contribute the rest.

"VTB intends to develop cooperation with priority industries and key companies in the Khabarovsk Territory. We believe that this region has great potential and the regional government is showing determination in implementing breakthrough projects, especially in infrastructure development. The capabilities and extensive experience of VTB Group should prove useful for this region," Oseevskiy said.

For reference:

VTB Bank and its subsidiaries (hereinafter VTB Group or the Group)are a leading Russian financial group which provides a wide range of banking services in Russia and the CIS, as well as in Europe, Asia, the Middle East, Africa and the United States.  The Group operates in Russia through a parent bank, VTB Bank, and six subsidiaries, including the largest ones VTB24, Bank of Moscow and TransCreditBank.

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