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VEB Group and the Kemerovo Region agree to deliver development projects

During the Eastern Economic Forum, VEB Infrastructure (InfraVEB) and the Kemerovo Region Administration Board entered into a cooperation agreement.


The document was signed by Deputy Chairman of Vnesheconombank Yuriy Korsun, Acting First Deputy Governor Vladimir Chernov representing the Kemerovo Region Administration Board, and Director of the Kemerovo Region Agency for Attracting and Protecting Investments Vitaliy Kupriyanov.

The agreement identifies the main avenues of cooperation on joint delivery of investment projects in the Kemerovo Region.

“VEB Infrastructure is already engaged in the preparation and implementation of major investment projects in the Kuznetsk Basin. A project aiming to develop a world-class ski resort in Sector B of the Sheregesh sports and tourist cluster is just one example. Undoubtedly, our cooperation will contribute to the quality preparation of investment projects and concession agreements slated for implementation, and encourage extra-budgetary investment in the local economy.” said Yuriy Korsun.

“In compliance with the Russian President’s May Decree, the Kemerovo Region Development Strategy 2035 identifies eight development priorities. The primary objective is to elaborate new flagship projects: construction of the Kemerovo bypass route; construction of a surgery facility for the regional children’s hospital; and development of tourist clusters. Our partnership with InfraVEB will facilitate the regional infrastructure upgrade and help prepare projects for attracting extra-budgetary investment,” said Vladimir Chernov.

A subsidiary of Vnesheconombank, InfraVEB has been established on the basis of the existing companies, Federal Centre for Project Finance and VEB Engineering. InfraVEB engages in investment project preparation, provides support for investment projects at early stages, attracts extra-budgetary investment, and renders project monitoring services at the investment and operational stages.

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