VEB.RF has released the first tranche of 1.7 billion roubles to create a campus in Chelyabinsk. The project is implemented under the Creating a Network of Modern Campuses federal project of the Science and Universities national project.
VEB.RF is acting both as a creditor financing the second and third stages of the project including the construction of six hotel complexes, an educational and research facility and a modular conference hall, and as an agent for the Russian Government involved in economic evaluation of the financial model and due diligence on the concession agreement, as amended. VEB.RF and Chelyabinsk Concession Company co-founded by VTB Infrastructure Holding signed a USD 18 billion loan agreement in November 2024 to arrange the project financing.
The campus project is implemented using the concession mechanism and stipulates creating a world-class interuniversity campus with a total area of 123,000 square metres earmarked for students, postgraduates and teachers from seven regional universities.
Two student hotels were completed and hosted residents in 2024 in the first phase of the project. Currently, the second and third phases of the project are being developed. Six hotels under the second phase, and an educational and research facility and a multi-purpose facility containing conference halls are scheduled to be launched in 2026 and 2027 respectively.
Nikolay Borisenko, Managing Director and Head of Investment Finance, VEB.RF: “VEB.RF and the VTB Group have already been successful in working together on major infrastructure projects. Our involvement in the Chelyabinsk campus project will facilitate cooperation between our institutions and will help to create a benchmark for projects designed to develop the educational infrastructure.”
Alexey Shulepov, General Director, Chelyabinsk Concession Company: “I’d like to specify most effective interaction between the project team and VEB.RF as the project’s senior creditor. Now that the sources of funding are identified and the first tranche provided, we may be confident about the quality and timeliness of project implementation.”
During the St. Petersburg International Economic Forum 2025, VEB.RF, Ministry of Education and Science of the Chelyabinsk Region and Chelyabinsk Concession Company signed a direct agreement for the project to build a world-class interuniversity campus.
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