Business Watch
Russia will start building new radar stations of the Voronezh class in three regions this year, spokesman for Russia’s Space Forces Col. Alexei Zolotukhin said on Sunday.
VTB Bank has signed agreements to provide a total of RUB 1 billion in loans to finance the budget deficit of the Kemerovo Region after winning eight electronic auctions.
The borrowed funds are planned to be channelled for financing the region’s budget deficit, which will help to balance its budgetary process and to resolve a number of social issues.
“Cooperation with government structures is one of VTB Bank’s strategic priorities. The bank plans to continue strengthening financial and economic relations with the region’s administration,” said Member of VTB Bank Management Board Valery Lukyanenko.
The Swiss group Sika is increasing its investments in emerging markets. The manufacturer of construction chemicals has opened a plant for concrete additives in St. Petersburg. The investments amounted to 2 million Swiss francs. Sika is an international company producing materials and technologies for construction industry. The company has manufacturing plants, research laboratories, support centres and sales offices in 80 countries. This is the company’s third facility in Russia. With its launch, the concern intends to increase its foothold in the Russian market. The turnover of its two existing Russian plants is estimated at 70 million Swiss francs.
International companies are attracted by the potential of the Russian construction market. Most recently, German BASF has also launched production of concrete chemical additives in Russia.
(Pavel Gagarin, chairman of Gradient Alpha Investment Group)
Deal could help private energy-service providers to work in Yakutia’s municipal sector
The EBRD will provide up to 3 billion roubles (€75 million) to modernise and increase the energy efficiency of district heating systems in a permafrost area of Far East Russia where the heating season lasts 10 months a year and winter temperatures drop to -50 degrees centigrade for extended periods.
Top managers of Russian developers and homebuilders discussed a number of questions at the Russia Forum 2012 including regulation, management competitiveness, the market beyond Moscow, the cost of land, investment and the future outlook.
A skyscraper Gazprom Neft, a subsidiary of Gazprom, wants to construct in Saint Petersburg in the face of opposition is set to be built after a key state body approved the plan, reports said Saturday. The design by UK-based international architectural firm RMJM is a 396 metre high twisting, glass needle which echoes the spires across the city of St Petersburg. RMJM beat off five other internationally-renowned architects for the commission to develop proposals for the tower in the historic heart of the city, close to the Bolsheokhtinsky Bridge and Smolny Cathedral but the soaring design created an outcry and opposition even from UNESCO who threatened St. Petersburg's World Heritage site status.