Friday, June 29, 2012

St. Petersburg International Forum Nets Agreements Exceeding $11 Billion



The three-day international forum in St. Petersburg brought together more than 5000 people from 87 countries, and led to agreements signed reaching $11 billion dollars. Though most of this year’s contracts were the so-called deals of “intent”, 13 "solid" contracts were concluded for the total sum of $5 billion. The core deals were signed in the aviation, energy, and banking sectors with the biggest worth almost 60 billion roubles.  Among the largest contracts was a loan agreement for the 120 billion roubles (roughly $3.6 billion) Western High Speed Diameter (WHSD) project, and in the aviation sector Russia's second-biggest airline Transaero signed an agreement to buy four Airbus A380 superjumbo planes worth $1.7 billion at list prices, as well as six Sukhoi Superjet-100 planes, with deliveries in 2015-2017, worth $212.4 million. In the oil and gas sector Russian oil giant Rosneft also signed a series of agreements including the deal with Statoil on joint efforts in Russia and on Norway's shelf. Finally, in the banking sector Sberbank of Russia and HSBC Bank signed a Framework Loan Agreement for $2 billion to provide Sberbank with short, medium and long term trade finance advances including advances to be covered by Export Credit Agencies.
http://rt.com/business/news/petersburg-forum-sees-billion-dollar-agreements-691/

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