CDB provides $800 million loan for Moscow Multipurpose Complex Construction Project

Project narrative

In October 2013, China Development Bank signed an $800 million loan agreement with Vnesheconombank (VEB) for the construction of a multipurpose complex in Moscow. The loan has a maturity of 6 years. The interest rate and grace period of the loan are unknown. The loan agreement was signed at the same time as a CDB loan agreement for the Ekibastuz GRES-2 Power Plant in Kazakhstan (see Record ID#53544). The complex is located on the territory of the former "Slava" clocks factory near Moscow's Belorusskiy Vokzal train station. This factory was demolished in November 2008. The Chinese sources indicate that the multifunctional complex involves some type of science and technology park (莫斯科“光荣”科技园区), while Russian sources refer to it as a multifunctional complex for business centers (Административно деловые центры). The contractor responsible for implementation is MR Group. The Moscow Multifunctional Complex Construction Project appears to be nearing implementation. It has been designed by a British architect named Philip Ball and it has undergone architectural review. However, it is not clear if construction has begun. The complex, which will occupy an area of 479,715 square meters, is scheduled for commissioning in 2015.