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VEB's Management Attends the Launch of the New Ford Kuga SUV at Ford Sollers

5 december 2016 года
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Vnesheconombank's Deputy Chairman – Board Member Tatyana Sakharova visited the Ford Sollers joint venture established with financial support from Vnesheconombank as part of her working trip to Tatarstan.

She participated in the launch ceremony for the new Ford Kuga SUV in Alabuga (special economic zone). The ceremony was attended by President of the Republic of Tatarstan Rustam Minnikhanov.

As part of Ford's strategy for renewing and adapting its model range, from December 2016, Ford Sollers is to start manufacturing the new Ford Kuga smart SUV that will be equipped with ERA-GLONASS emergency call system and a number of innovative driver assist technologies. Before the official launch, the new model will undergo comprehensive testing and will be adapted for Russian climate and road conditions.

In her welcome speech, Tatyana Sakharova said: “I expect our partnership with Ford Sollers will continue: we, as a development bank, find it important to keep pace with our clients, help them grow, support their efforts so that in the end the project will succeed, create new jobs and generate tax revenues.”

The Ford Sollers joint venture has been implementing the project for the modernisation and expansion of manufacturing facilities, production of Ford cars and engines with Vnesheconombank's financial support since 2011. The total project value amounts to RUB 115 bn, with the Bank’s commitment standing at RUB 43.8 bn.

Since then, two plants have been fully modernised, five new Ford car models have been launched and, in 2015, an engine manufacturing plant was constructed and put into operation in the Republic of Tatarstan. In Vsevolozhsk, Leningrad Region, two renewed models are now manufactured. At the moment, Ford Sollers produces seven Ford car models: Focus, Mondeo, Kuga, Transit, Explorer, Ecosport, Fiesta.

In the Republic of Tatarstan, Vnesheconombank participated in the implementation of 6 investment projects for a total of RUB 297 bn. The Bank has provided over RUB 172.7 bn to finance them. At the moment, Vnesheconombank is considering three projects for a total of RUB 115.8 bn.


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