OREANDA-NEWS. September 22, 2014. Sberbank of Russia and Stroi International have signed a cooperation agreement at International Investment Forum Sochi-2014.

The document was signed by Maxim Poletaev, First Deputy Chairman of the Executive Board of Sberbank and Arthur Avanessian, General Director of Stroi International CJSC.

Under the agreement the parties will carry out joint projects, namely, the construction of a housing complex in Krasnodar. Sberbank will provide RUB 1.45 bln of financing for the project, which is planned for completion in the first quarter of 2016.

Previous joint projects completed by Sberbank and Stroi International CJSC include the construction of the Sochi Formula 1 track (RUB 1.20 bln worth of financing was provided).

Stroi International carries out all the stages of design and construction on a turnkey basis. The Group’s projects include objects of the XXII Olympic Winter Games in Sochi – the Olympic Cauldron and the indoor skating centre.