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CES Group of Companies and Vnesheconombank signed a memorandum of cooperation and collaboration

May 30, 2012

The memorandum envisages cooperation between the companies in the development and implementation of pilot projects to develop the engineering and social infrastructure with the application of public-private partnership (PPP) mechanisms.

Complex Energy Solutions LLC (CES Group of Companies) and the State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank) signed a cooperation and collaboration memorandum.

The memorandum aims to strategic partnership development and the establishment of long-term, effective and mutually beneficial cooperation between the parties in the area of public-private partnerships, in particular for projects aimed at addressing the infrastructure constraints of economic growth and solving social problems in the regions of the Russian Federation.

For the CES Company the document was signed by Alexey Baranov, the first vice president of the CES Group of Companies, for the Vnesheconombank — a Board member Anatoly Tikhonov, the first deputy chairman of Vnesheconombank.

Development of the heating systems reconstruction program according to the scheme of public-private partnership is a priority route of the CES Group of Companies’s activities.

«The average heating net wear degree in the regions is 60%. Since the industry is extremely capital-intensive, and there is frequently a lack of regional budgets to finance heating and boiler equipment repairs, our group has developed a special mechanism for PPP creation in the regions of Russia. This will allow the regions to significantly reduce production costs through the modern equipment installation, which requires much lower maintenance costs,» the CES Group of Companies Board member Vladimir Kazintsev said.

CES Group of Companies is a multi-profile engineering and construction full cycle holding, which implements complex projects in the field of electricity and heating. The Holding unites several companies with different functional specialization: CES LLC; AdvanceStroy LLC; Glavenergostroy LLC; SELS LLC; Stroyenergorezerv LLC; CES Engineering Center -Alstom Grid.

The State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank)
was established in 2007. In accordance with the Federal Law of May 17, 2007. № 82-FZ On Bank for Development on the Vnesheconombank of the USSR basis. The Bank's activities are directed to overcoming the infrastructure constraints to growth, modernization and development of non-primary economy, knowledge-based industries, encouraging innovation, exports of high technology products, implementation of projects in special economic zones, projects in the field of environmental protection, and support for small and medium businesses.

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