Vnesheconombank (VNECB), Russia’s state- development bank chaired by Vladimir Putin, may fund the first project to develop liquefied natural-gas market domestically, the government said.
The board of the Moscow-based bank, known as VEB, plans to discuss tomorrow funding a plant in central Russia’s Tambov region, which will produce more than 400,000 metric tons of LNG a year and start supplying it to the domestic market, the government said in an e-mailed statement.
VEB plans to boost its loans portfolio 7 percent this year to 540 billion rubles ($18.4 billion). The board will also discuss tomorrow funding sales of 400 Russian locomotives to Ukraine, according to the statement.
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