NOMOS-BANK holds an information session on complex project finance in Russia

As part of RUSSIA Investment Roadshow in London, NOMOS-BANK held an information session “Complex Project Finance in Russia — Catalyst for the Implementation of National Projects”. A major pre-requisite for successful implementation of “Affordable Housing” national project is to balance supply and demand in the housing market, including the provision of complex project finance,- stressed NOMOS-BANK Vice President Alexander Royko speaking at the session.in London, NOMOS-BANK held an information session “Complex Project Finance in Russia — Catalyst for the Implementation of National Projects”. A major pre-requisite for successful implementation of “Affordable Housing” national project is to balance supply and demand in the housing market, including the provision of complex project finance,- stressed NOMOS-BANK Vice President Alexander Royko speaking at the session.

Among the participants in the session were: Grigory Tomchin, President, All-Russia Association of Privatised and Private Enterprises; Yuri Zhukov, Chairman of the Board of Directors, “PIK” Group of Companies; Richard Threlfall, Director, Corporate Finance, KPMG, London; Andrey Vladimirov, Financial Director, OAO “Master”; and Glenn Kolleeny, Moscow and St Petersburg Partner, Co-Head of Russian Corporate/M&A Practice, Salans.

According to Alexander Royko, the key problem facing the “Affordable Housing” Project remains active demand stimulation in the absence of adequate supply, which drives the prices up. "Limited existing capacity of utilities’ enterprises, insufficient energy and raw materials sources to support housing construction, rising prices for construction materials and energy resources — all this taken together provokes supply deficit and higher prices in the housing market, — he noted. A shift in the government’s focus under the national project toward the construction and utilities industries could become a solution to this problem, — believes Alexander Royko. In this connection, the banker referred to NOMOS-BANK’s successful experience in applying comprehensive approaches to providing complex project finance for a number of development projects in Krasnodarskiy Kray and North-West Region. The Bank took an active part in the implementation of these projects at all stages — from financing energy and construction materials producers to providing funds to developers and individuals wishing to purchase completed housing, which allowed procuring a balanced solution to all emerging problems, — he underscored.

The two-day forum in London was attended by Russian entrepreneurs who provided Western investors with an overview of Russia’s economic opportunities and market specifics. London became the first starting point of the presentation of Russia’s opportunities: having commenced in the U.K. capital, the forum will continue its work in Dubai, Hong Kong and New York.