OREANDA-NEWS. September 24, 2007. In the course of the Fourth Investment Forum “Sochi 2007” the State Corporation “The Bank for Development and Foreign Economic Affairs (Vnesheconombank),” the Krasnodar region Administration, Oil Company Severnoye Siyaniye and Azov Transport Company signed an Agreement on Cooperation.

The Agreement aims to establish partner relations and promote long-term effective cooperation in working out schemes to finance and carry out the project to build North-East Cargo Area of the Port Kavkaz. The amount of investment in this project is expected to be 2.5 billion rubles.

Implementation of this project would boost the region’s industrial potential help, create new jobs and increase tax revenues to the regional budget.