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VEB.RF to Finance Construction of Cross-Border Passenger Cableway between Russia and China

2 september 2021 года
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During the 2021 Eastern Economic Forum, VEB.RF (VEB.RF Group) and ZED Development (part of the Region Group of Companies) signed a cooperation agreement to implement a project for the construction of a cableway across the Amur River at the section of the Russian-Chinese border between Blagoveschensk (Russia) and Heihe (China).

The project involves constructing a cross-border passenger cableway with a passenger terminal and retail space. VEB.RF’s investments will total 2 billion roubles.

The agreement was signed by VEB.RF’s Deputy Chairman and Member of the Management Board Artem Dovlatov and Region Group’s Vice-President Valeria Repkova.

VEB.RF’s Deputy Chairman and Member of the Management Board Artem Dovlatov:

“VEB.RF is the first to include such an unusual transport infrastructure project on construction of a cableway in its portfolio. It will take only three minutes to get from Russia to China! The cableway is scheduled to begin operation in the first quarter of 2023. The total passenger traffic is projected to reach 1.1 million in the first year of operation. The project has received a positive opinion from the Russian Main Department of State Expertise, construction works are under way, and the relevant land lease contracts, general contractor contracts and equipment supply contracts have been concluded.”

“A high-technology international project implemented by our group of companies is the first of a kind, and it will definitely become a landmark of the Far East region. For the first time, the cableway will connect the two states and ensure more comfortable transportation between the two border towns. The project will encourage tourism and help to create new economic and social ties in the border region,” Project Supervisor and Region Group’s Vice-President Valeria Repkova said.

The Russian developer is ZED Development (part of the Region Group of Companies), the Chinese developer - Jinlungang Company (CRCC).

The project is being implemented on a parity basis under an intergovernmental agreement between Russia and China signed in September 2015.


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