State guarantees for Lesnaya Polyana project loan extended
2010-03-07
The Council of People’s Deputies of the Kemerovo Province have extended the period of the state guarantees for the €10m loan issued in 2007 by the Moskvabankto Novye Tekhnologi (New Technologies) for the construction of the infrastructure of the satellite town Lesnaya Polyana. The state guarantees were, initially, valid until 2010, and the termination date is now 24 October 2012.
Lesnaya Polyana is one of a number of pilot projects approved by the government which involve the integrated development of territories in the Russian regions. The implementation of the project began in 2007, 10 km from Kemerovo, near the village of Andreevka. The project envisages the construction of 1.2 million m2 of housing for 30,000 people.
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