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Direct Agreement Signed by VEB.RF for Arkhangelsk’s Arctic Star Campus Construction

3 october 2025 года
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The document sets out the terms of long-term cooperation, as well as specifying approaches to risk sharing among the participants in the concession project in the Arkhangelsk Region in order to achieve its goals.

VEB.RF, the Arkhangelsk Region Government and Arctic Star LLC signed a direct agreement for the construction of a world-class campus in Arkhangelsk. The technopolis will help to attract and retain young talent in the region, improve the quality of higher education, and form a scientific community focused on priorities for the whole of the Arctic.

“The agreement sets out the terms of long-term cooperation. This is a major step forwards in carrying out the campus construction project. Importantly, the region’s cooperation with VEB.RF and the concession holder will add 3.2 roubles in investment to each rouble allocated by the Arkhangelsk Region Government. As a result, the project will attract more than 30.88 billion roubles in the regional economy,” said Aleksey Alsufyev, Chairman of the Arkhangelsk Region Government.

Nikolay Borisenko, Managing Director, VEB.RF, said: “The creation of modern campuses is one of the key tasks set by the Russian President as well as a powerful engine for regional development. The project involves setting up a modern scientific and educational centre that will provide training, including what is needed to reach the strategic goals of Arctic development. VEB.RF has successfully financed major infrastructural projects, and we are ready to give the necessary financial and methodological support. VEB.RF will lend a total of 8 billion roubles for a term of 15 years. The direct agreement specifies the terms of long-term cooperation among the regional government, VEB.RF and the concession holder to safeguard the interests of all the parties and achieve the goals of the project.”

VEB.RF and Arctic Star LLC signed the loan agreement in April 2025.

The total project value is 40.7 billion roubles. This will be used to finance the construction of modern accommodation for students and teachers and the creation of necessary educational and sports infrastructure. The design of the campus is complete, and construction work has already begun. The project is scheduled for completion in early 2029.

The research programme of the campus is fully consistent with the national goals and tasks set by the Decree of the Russian President “On the Fundamentals of State Policy of the Russian Federation in the Arctic for the Period Until 2035”. Arctic Star is designed to bring together intellectual resources and become a training centre for work in Arctic conditions, applied and fundamental research, and solutions necessary for development throughout the Arctic.

Under the Arctic Star campus construction project in Arkhangelsk, VEB.RF is also mandated to act as an agent for the Russian Government to conduct economic due diligence on the project’s financial model and legal due diligence on the concession agreement.
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