Corporate Communications

VTB Bank Europe has success fully passed the prequalificationstage of an open tender in "Nadzemny Express" project

9 July 2008

VTB Bank Europe plc, a member of the Investment Business of VTB Group, has successfully passed the prequalification stage of an open tender in Nadzemny Express project as a part of consortium comprising Siemens Project Ventures GmbH, Strabag AG and Basic Element.

Moscow, 7 May. VTB Bank Europe plc, a member of the Investment Business of VTB Group, and part of a consortium comprising Siemens Project Ventures GmbH, Strabag AG and Basic Element, is pleased to announce that the special project company Northern Capital Express established by the consortium has successfully passed the prequalification stage and has been admitted to participate in an open tender for the right to build and operate the new light rail transit line Nadzemny Express in Saint-Petersburg, Russia.

This project is of great importance to the development of Public-Private Partnerships (PPP) in Russia and transport infrastructure in Saint Petersburg. Recognising the significance of the project, VTB Bank Europe made a decision to mobilise all necessary resources in order to participate in the competition and support one consortium on an exclusive basis starting from the prequalification stage.

Yuri Soloviev, Head of VTB Groups Investment Business, said: Our participation in the project is aligned with the Banks strategy in providing financial support to infrastructure projects in Russia and other CIS countries. All aspects of PPP projects, including raising financing, financial advisory services and risk hedging, fall under the responsibility of the Infrastructure Capital Department of the Bank. Infrastructure Capital is part of the Investment Business of VTB Group and was created to develop and finance PPP projects in Russia and the CIS.

Oleg Pankratov, Head of Infrastructure Capital, VTB Bank Europe pointed out: Our participation in this project and our partnership with companies like Siemens, Strabag and Basic Element is very important for us as part of the Banks strategy for development of infrastructure projects, including transport, power sector, housing and communal services and social infrastructure.


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