OREANDA-NEWS. September 19, 2011. In the course of the 10th Sochi 2011 International Investment Forum, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, the Chechen Government, Open Joint Stock Company the North Caucasus Development Corporation (NCDC), Production-Commercial Company Kazbek (LLC), Closed Joint Stock Company Interregional Production Resource Corporation GRAS (IPRC GRAS) entered into an Agreement On Cooperation.

On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of the Chechen Government – by Prime Minister Odes Baisultanov, on behalf of NCDC – by Director General Anton Pak, on behalf of the Kazbek Company – by Director General Ilmadi Abuezidov, on behalf of IPRC GRASS – by Board Director Sergei Lipatov.

The parties agreed to cooperate in implementing the Investment Project “Construction of Innovation Construction Technopark Kazbek” on the territory of the Chechen Republic.

The Project is aimed at creating the first innovation technopark on the Republic’s territory. The technopark integrates a complex of production facilities to manufacture advanced construction materials in order to provide the market of the Chechen Republic and the North Caucasus Federal District with advanced ecological, energy-efficient materials for building housing and public facilities with the use of advanced accelerated modular construction technology adapted to the region’s environmental and climatic conditions.

The technopark will be comprised of plants to manufacture aerated concrete blocks and plates, dry construction mixes and construction lime. The project’s total value is 4.98 billion rubles.

The project is included in the List of attractive projects designed to implement the Strategy for the Socio-Economic Development of the North Caucasus Federal District up to 2025. The project’s implementation would help to saturate the region’s market with top-quality construction materials, increase construction speeds, develop the Chechen Republic’s mineral raw materials base, create new jobs and increase employment in related sectors.