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VEB.RF Group to Finance the World’s First Cross-Border Passenger Cableway Project in Amur Region

3 june 2021 года
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VEB.DV (part of the VEB.RF Group), Agency for Development of Project Initiatives (ADPI, part of the REGION Group) and the Government of the Amur Region agreed to cooperate in implementing a project for the construction of a cableway across the Amur river at the section of the Russian-Chinese border between Blagoveschensk and Heihe. The cooperation agreement was signed today at the St. Petersburg International Economic Forum by VEB.RF Deputy Chairman and Member of the Board Artyom Dovlatov, CEO of ADPI Valeria Repkova and the Governor of the Amur Region Vasily Orlov. The total project value is RUB9.7bn. The project is implemented under the governmental agreement between the Russian Federation and the People’s Republic of China of 3 September 2015.

The cableway will consist of two independent lines having two cabins with passenger capacity of up to 110 people. It will service 1,788 passengers per hour in one direction. The expected passenger traffic in both directions is about 1 million people per year. The cableway length is 976 metres. It is intended that the cableway will begin operation in 2023.

In addition, a four-level passenger terminal with an area of 26,000 square meters will be constructed on the Russian side.

“VEB.DV encourages investment in the Far East providing low-interest loans and long-term financing for various investment projects. The memorandum of cooperation on such an interesting and unique international project for cableway construction is an additional guarantee of stable financing, and that gives us the confidence that the facility will be commissioned in two years. The cableway construction is one of our priority projects. Apart from being a comfortable means of cross-border transportation, the cableway will provide a significant incentive for the development of tourism. Besides, the launch of such unique project will produce a multiplying effect for the capital of the Amur Region,” Governor of the Amur Region Vasily Orlov said.

“Construction of the world’s first cross-border passenger cableway between Blagoveschensk and Heihe will bring added impetus to the development of tourist infrastructure in the Far East, make the region attractive for foreign tourists and lay solid foundations for strengthening Russian-Chinese relations,” VEB.RF Deputy Chairman Artyom Dovlatov said.

“A high-technology international project implemented by ADPI (part of the REGION Group) provides for coordinated work of international teams from Russia, China, France and the Netherlands. The project is the first of a kind, and it definitely will encourage the growth of cross-border agglomeration, create new jobs, facilitate the development of tourism, strengthen economic and social ties, and boost trade turnover in the frontier region,” CEO of ADPI Valeria Repkova said.


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