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VTB to finance five investment projects in Far East

July 01, 2013, 8:51 UTC+3
They include reconstruction of the highway between Vladivostok, Nakhodka and Vostochny, development of Vladivostok International Airport etc.
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VLADIVOSTOK, July 1 (Itar-Tass) - Russia’s VTB Bank has signed a cooperation agreement with the Far East Development Fund.

The signing ceremony took place in Vladivostok, Russia’s Primorsky Territory. First Deputy Prime Minister Igor Shuvalov attended the ceremony.

Under the agreement five new large-scale investment projects will be implemented in the Far East, of them three - in the Primorsky Territory. They include reconstruction of the highway between Vladivostok, Nakhodka and Vostochny, development of Vladivostok International Airport and the construction of infrastructure facilities for the integration of tourism and entertainment zone Primorye in the Muravyinaya Bay.

“Unique geographic location of the region makes it possible to develop industrial, logistic and tourist clusters,” Shuvalov said. “The signing of the agreement is one of the ways to create modern infrastructure for urban living. What had been done there is the start to big business.”

Earlier, on the sidelines of the St. Petersburg International Economic Forum the Far East and Baikal Regional Development Fund, Vnesheconombank and Changi Airports International signed a memorandum of understanding.

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