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VEB to invest 30 bln rubles into Tambov-based projects

 Russia & CIS Business and Financial Newswire

MOSCOW. March 28. (Interfax) — Vnesheconombank (VEB) is investing over 30 billion rubles in projects based out of the Tambov region, VEB chair Vladimir Dmitriev told journalists.

Dmitriev said that main project was the creation of an innovative closed cycle factory fish farm for species of trout, pike and sturgeon in the Tambov region.

He said total investment in this project would come to 4.7 billion rubles.

In addition, VEB will participate in the construction of a cement plant, several sugar works and bioethanol production facility. Dmitriev put total investment in these projects at over 30 billion rubles. «4.7 billion rubles in earmarked for fish [projects], the remaining total will go into other areas,» he said.

Dmitriev added that VEB would be implementing projects based out of the Central Federal District. For example, this includes financing major infrastructural facilities as part of a technopark construction in Nagatino, two forestry industry projects in the Tver region and the development of an industrial zone in the Kaluga region.

Date:  29.03.2008

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