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VTB Group will place its offices in the Moscow City International Business Center

 
17 February 2006

Management Board of Vneshtorgbank has made a decision to acquire A-Class office premises in the Federation Complex which is being built by Mirax-City company.

Under the agreement to be signed, Vneshtorgbank will acquire more than 60 thousand square meters of office premises located on 33 floors of the Complex. The premises will house the personnel of both Vneshtorgbank and its subsidiary, Vneshtorgbank 24. Corporate customers and households will be served at the lower floors.

Presently, Vneshtorgbank is already participating in the construction project through financing the construction costs under the documentary credit limit totaling USD 250 million.

Andrey Kostin, Chairman and CEO of Vneshtorgbank, is cited to say that: "In the Moscow commercial real estate market, this project is the only one which matches the present scope of VTB Group activities. The technological solutions jointly applied to the construction by VTB Group and its partners from Mirax Group will allow VTB Group to enjoy most comfortable and sophisticated business environment. Through acting together on the same territory, we can ensure stronger coordination of our efforts, and can offer greater conveniences for our partners and customers."

For reference: Federation Complex is being build within the Moscow City International Business Center construction project. The land lot to be developed for the construction is more than a thousand hectares. The complex will be a multiplex with two uneven towers of 62 and 93 floors, respectively. They will be connected by a 7-floor high stylobate part and a 4-floor high basement. Bearing structures of both ground and underground parts are being erected in compliance with cast technology using hyper strong concrete. The total area of the Complex is 417 thousand square meters. The Complex is expected to be put in operation in January 2008.

Mirax-City is the Developer and Builder of the Complex. The company has asked Turner International (USA) for consultation in construction management.


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