OREANDA-NEWS. Vnesheconombank Chairman Vladimir Dmitriev and Head of the Chechen Republic Ramzan Kadyrov participated in a ceremony to lay a foundation stone for the Kazbek Innovation Construction Techno-Park.

The project aims to create the first innovation techno-park integrating a complex of interrelated production facilities to manufacture advanced building materials for erecting housing and public buildings.

The project’s total value is 4.9 billion rubles; Vnesheconombank’s participation share is 4.4 billion rubles. The project’s implementation would make it possible to provide the region’s construction market with quality and affordable building materials through developing the region’s own mineral raw materials.  As a result of putting the techno-park into operation revenues in budgets of all levels will amount to more than 4 billion rubles, there plans to create more than 250 production jobs  increase employment by 2000 in interrelated sectors.

In the course of his trip to the North Caucasus Federal District V. Dmitriev discussed investment potential of the North Caucasus Federal District with the leaders of the Chechen Republic and the Republic of Dagestan and he also visited a float-glass plant under construction (Dagestan).

Vnesheconombank participates in funding the project on the construction of a float-glass plant with a capacity of 600 ton per day. The project is being implemented by OJSC the Kaspian Float Glass Plant. The project’s total value is 10.6 billion rubles, with Vnesheconombank’s participation share being 7.1 billion rubles. The project is oriented to import substitution and export of up to 40% of products including to CIS countries. Putting the plant into operation would enhance Dagestan’s socio-economic development and give an impetus for developing the whole region, revenues in budgets of all levels are estimated at 4.4 billion rubles and there are plans to create more than 300 jobs both at production facilities and in interrelated sectors.

All in all, Vnesheconombank’s bodies approved the Bank’s participation in funding 10 projects on the territory of the North Caucasus Federal District (NCFD) for a total amount of 58.4 billion rubles, with Vnesheconombank’s participation share being 33.6 billion rubles. As of February 1, 2013, 16 projects of NCFD for a total amount of 63.8 billion rubles were under consideration at Vnesheconombank, with Vnesheconombank’s expected participation share being 38.9 billion rubles.