VTB Group to participate in long-term investment projects in Azerbaijan
BAKU. Dec 25 (Interfax) - VTB Group plans to take part in long-term investment projects in Azerbaijan, the chairman of the board of VTB Bank (Azerbaijan) Yury Yakovlev said on Thursday at a press conference held at Interfax's office in Azerbaijan.
"A search is underway for the most interesting investment projects in Azerbaijan. This could be industrial facilities, infrastructure development projects, in which VTB plans to participate on a global scale, not from the position of VTB Bank (Azerbaijan) but from the position of the international group," he said.
VTB Bank (Azerbaijan) has declared 2015 to be "The Year of Cooperation with The Real Sector,"
The bank is currently considering cooperation with steelmaker CJSC Azerbaycan Polad Istehsali Kompleksi.
"We are also discussing with the Energy Ministry opportunities to cooperate in developing alternative energy sources, are ready to support production of solar panels and provide loans for the public to buy them," he said. "We are conducting an intensive dialog with the Transportation Ministry on cooperation in modernization of rail infrastructure. We are ready to take part in modernizing seaports and creation and operation of rolling stock via VTB Leasing."
VTB Bank (Azerbaijan) received its license to conduct banking operations in March 2009. Russian VTB owns 51% of shares and Azerbaijan's AtaHolding has 48.99%.