OREANDA-NEWS. February 11, 2011. The British Magazine Project Finance granted the Deal of the Year Award to projects financed with Vnesheconombank’s participation. An awarding ceremony was held in London on February 9, 2011.

The competitions’ organizing committee reviewed about 350 applications for the Award. A basic requirement for nominees was that all the transactions under the projects presented for the Award were covered by guarantees and closed in 2010.

The competition’s organizers stressed a large scale and long term of projects implemented with Vnesheconombank’s participation in the real economy and in the transport infrastructure development sector on the principles of public private partnership.

An award in the nomination The Best Deal of the Year in oil refining was given to the project to finance the modernization of the Khabarovsk Oil Refinery. The amount of investments in modernizing the refinery is 1.297 billion US dollars, with Vnesheconombank’s participation share being 767.5 million US dollars.

An award in the nomination The European Deal of the Year in Petrochemestry was granted for raising funds to finance the project to build the Tobolsk-Polymer Complex. The amount of investments is 2.429 billion US dollars, with Vnesheconombank’s participation share being 1.441 billion US dollars.

These projects were implemented with the use of trade financing instruments and with raising long-term financing (up to 10 and 13 years respectively) from a syndicate of foreign banks.

An award in the nomination The European Deal of the Year in airport infrastructure development was given to the project to reconstruct Pulkovo Airport. The amount of investments (the first stage) is 1.2 billion euros, with Vnesheconombank’s participation share being 10 billion rubles.

The Project Finance Magazine is incorporated in the well-recognized publishing Group Euromoney. The magazine specializes in publishing information on project financing, covers the latest developments in infrastructure financing and does a global analysis in this field. The Deal of the Year Award has been granted for 12 years.