Pankratov: punishment spurred domestic investors
Gulnara Vakhitova. Punishment in Western countries as Russia did not go unnoticed - out by the EBRD and the Western pool of credit organizations of the Russian infrastructure projects have a negative impact, but at the same time spurring domestic investors to participate in projects indicates head of payments infrastructure " VTB Capital " Oleg Pankratov. In an interview Last news on the sidelines of the forum " Russia calling!" He told about It, when can we expect an influx of Asian investors and how you should attract Asian contractors to participate in the Russian infrastructure projects.
Now in the work of " VTB Capital " the two largest Russian infrastructure project under the scheme of public-private partnership (PPP): the seventh-eighth sections of the road Moscow - St. Petersburg and project waste treatment plant in Levashovo near St. Petersburg, told Pankratov.
" The 1st project is a total investment of 80 billion rubles, of which about 25 billion of private money. Construction is scheduled to be completed in 2018, It will be a toll road, the project is implemented within the framework of a concession contract with the state company " Avtodor " ", - He said.
Partner of " VTB Capital " in this project is the French Firm Vinci, which is one of the largest infrastructure investors, added Pankratov." We are in the process of negotiations with the " Avtodor " and preparing for the signing of the concession agreement and financial closure in the near future, in order to start construction early next year, " revealed the Head of Department.
the head of Department acknowledged that the market feels a certain negative impact of output EBRD payment infrastructure projects, although much less feel the effect of reducing the pool of Western credit institutions.
However, He adds that this situation provides and fruit became significantly positive impact associated with the increased participation of pension funds.
" We are seeing an equally active role of pension funds - always Participated UK Leader, MC Gazfond. Currently, We observed that other pension funds have expressed interest to Participate in the financing of infrastructure projects, " said Pankratov.
He was confident that the funds of the Russian pension funds will be able to replace the output of the foreign partners of the projects.
" without a doubt (can substitute - as amended). The Western part of credit institutions was not so significant. For example, ZSD We have received offers from credit institutions and Nordea Unicredit, but These proposals were worse than the proposals of Russian credit organizations. That is, they were willing to Participate, but not on more favourable terms. Frankly, Western banks excluding currency projects, such as airports, has never played a significant role in this market, " He said.
reviews Pankratova, funds Asian investors will be held in Russian projects, but This will not happen quickly." Infrastructure financing and construction of very long-term projects. We communicate with Asian construction companies, with the Asian export credit agencies a long time ago. It is not what currently happens instantly, " He said.
Part of the Asian credit institutions or Asian export credit agencies, as a rule, is connected with the participation of Asian contractors, explained the head of the Department." Chinese contractors have long expressed interest in the Russian market, We talked with them on many projects. Anyway, never forget that the focus is on competitive cost, for this reason, it is wrong to choose Asian contractor only to attract funding, because if It would have cost in 1, 5 times more expensive than the Russian contractor, that will win on the financing, will lose on the price of the contract, " said Pankratov.
This indicates that the choice of the contractor should not be in the country of its habitat, and on objective indicators." These objective indicators include, for Example, benefit from the payment, which He brings, " added He.
Export Agency are open for business with Russia, the contractor must always be selected by competition, and this competition shall include the cost of the contract and its rules, and rules for payment which the contractor may provide, believes Pankratov.
The head of VTB Capital " confirmed that Asian investors and lending institutions have a certain interest in the Russian Federation." For them, as well as the Western credit institutions, the question of exchange, able to provide rubles in the right quantities. We communicate with Asian investors - Koreans are quite active, the Chinese, We continue This communication and I think that they will be participants in this market, and We certainly will see more of this kind of financial projects, " said Pankratov.
The US and EU do not recognize the annexation of Crimea to Russia and accused Moscow of interfering in Ukraine. Russia denies It and calls the accusations are unacceptable. Western countries since March has repeatedly imposed punishment on a number of Russian politicians, businessmen and organizations and threatened to make wider restrictive measures. The last case of the use of such practices began in September punishment.
A complete list of Russian Citizens and organizations who are under punishment, -