News

July 12, 2009

The Government of the Republic of Buryatia and IFC METROPOL sign an agreement establishing the Republic of Buryatia Development Corporation LLC. The agreement also covers the two sides’ cooperation within the frameworks of the Comprehensive Trans-Baikal Development investment project

IFC METROPOL used the Trans-Baikal Economic Forum’s International Economic Conference in Buryatia to sign a multilateral agreement of intent. The agreement involved: the Property Fund of the Republic of Buryatia (a Specialized State Agency); the IFC METROPOL LLC; the OGK-3 (Third Wholesale Generation Company) JSC, the TGK-14 (14th Territorial Generation Company) JSC; the Baikal Timber Company JSC; the Intergeo Management Company LLC; the Vertex Mining Company CJSC; and the AKROPOL Group LLC.
Within the frameworks of their Agreement with the Republic of Buryatia, IFC METROPOL and the project’s other participants intend to the use the public-private partnership to implement the Comprehensive Trans-Baikal Development investment project.
According to the agreement of intent, the infrastructure required by investors to implement their Comprehensive Trans-Baikal Development investment projects will be financed by the state. The Republic of Buryatia Development Corporation LLC, which was established within the project’s frameworks, will sponsor the investors’ joint application to the Investment Fund of the Russian Federation.

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