OREANDA-NEWS. On 26 May 2008 was announced, that CEO of Transstroi Design and Construction Company LLC Yu.U.Raylian and President of JSC TransCreditBank signed Cooperation Agreement providing for long-term relations between the company and the Bank.  The document was executed and delivered during the International Transport Forum “Russia’s Transport - 2008” in Sochi.

Pursuant to this Agreement the parties will focus on implementation of infrastructure projects under programs endorsed by the Ministry of Transport of the Russian Federation and the Ministry for Regional Development of the Russian Federation.

TransCreditBank is supposed to provide loans of different tenure and issue bank guarantees to Transstroi for fulfillment of building contracts, and for support of bidding at tenders, auctions and competitions.  The parties will jointly develop and implement project finance schemes for capital-intensive projects including on the basis of concession laws.  In the interests of its partner the Bank will finance delivery of equipment, machinery and vehicles on leasing terms, including raising funds in the international markets against ECA guarantees.    The parties plan to cooperate in other areas of mutual interest.

To quote Yu.U.Raylian, CEO of Transstroi “The Agreement is a framework agreement and intended to raise funds for development of infrastructure across all Russia.  Proceeds are planned to be used upgrade the existing and to create new transport infrastructure - motorways, railroads, waterworks, airports”.

To quote President of the Bank S.N.Pushkin “in accordance with the medium-term development strategy of the Bank we steadily step up the scale of cooperation with companies in all transport areas, focusing on leaders in respective sectors.  Transstroi is such leader in the transport construction industry.  We are sure that cooperation that is started now will be long-term and mutually beneficial.  We are grateful for assistance in development of our cooperation to the Ministry of Transport of the Russian Federation with which we have Strategic Partnership Agreement for implementation of various projects in the transport industry”