FEHTF Invests RUB 200 Mln in Smart City Project for Primorye
28 апреля 2021

The Far East High Technology Fund (FEHTF), sponsored by investors such as VEB.DV, RUSNANO (part of VEB.RF) and RVC, has invested RUB 200 mln into Digital Primorye LLC – a joint venture (JV) with VessoLink Group engaged in the integration of smart urban systems.  The JV will launch digital facilities and hi-tech systems for transportation, housing and utilities, education, public health, etc. in Primorsky Krai. A total of over 30 facilities are planned to be launched by April 2022. 

Digital Primorye is an integrated project that provides for the creation of a digital infrastructure and management system in Primorsky Krai and four municipalities located there – Vladivostok, Nakhodka, Artyom and Ussuriysk. The project is implemented as a public-private partnership (PPP). The concession agreement to implement the project was signed on 12 April 2021 between Digital Primorye LLC, the Government of Primorsky Krai and the city administrations of Vladivostok, Artyom, Nakhodka and Ussuriysk.

The funds provided by the FEHTF will be allocated to the first-stage integration of information systems. An integrated digital portal and a resident’s card will be introduced in Primorsky Krai, which will “digitize” the provision of services to residents, making it easier for them to receive benefits, pay for utilities and transport, and participate in the management of the urban economy. In addition, Vladivostok, Nakhodka, Artyom and Ussuriysk will commission new infrastructural facilities, including heated bus stops, smart traffic lights, and lighting systems.

Over the term of the concession agreement (12 years), total project investments will make more than RUB 5 bln, including the funds from the FEHTF, private investment and bank loans.

Digital Primorye is the first infrastructural project in the PPP format by the Far East High Technology Fund. It is intended to speed up innovation-driven development in the Russian Far East and the implementation of comfortable living and business solutions. To date, the Fund’s total investments in Far Eastern and hi-tech projects exceed RUB 1 bln.

“The introduction of smart systems will make city management processes more transparent, flexible, and efficient. Combined with the potential of information technologies, the PPP format will enable to rapidly improve the quality of life and safety in the region. This creates ideal synergy to promote the Fund’s objectives in the Far East, which is the reason why the implementation of the project will be continued in the macroregion,” said Ruslan Sarkisov, CEO of the Far East High Technology Fund. 

“Along with long-term infrastructural projects, it is worth giving attention to the initiatives that will have a positive effect on the quality of life in the Far East in the near future. The implementation of the Digital Primorye project will make it possible to improve the quality of the living environment considering the residents’ needs, create a digital infrastructure, and make the urban space more comfortable for Primorye residents. Digital transformation has been designated as a national priority, and it must be promoted at a regional level,” said Artyom Dovlatov, Deputy Chairman – Member of the Management Board, VEB.RF.

“The Fund is launching a new major area of infrastructural projects characterized by a strong scaling potential both in the Russian Far East and throughout Russia. Projects such as Digital Primorye have a direct impact on the quality of life for all residents in the region by improving the availability of multiple services in the sectors of education, public health, housing and utilities, etc. RUSNANO Group is now prioritizing those hi-tech projects that improve the quality of life for the general public in our country,” said Alisher Kalanov, Member of the Management Board, Head of Investment Division RES, RUSNANO Management Company.

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The Far East High Technology Fund (FEHTF) was established in August 2018 as instructed by Vladimir Putin, President of the Russian Federation, and Yuri Trutnev, Deputy Prime Minister of the Russian Federation and Presidential Plenipotentiary Envoy to the Far Eastern Federal District. The Fund’s capital is RUB 5 bln, and its total investments amounted to RUB 1 bln as of April 2021. The Fund has financed hi-tech companies Hotlead and Visitech based in the Russian Far East along with the companies that are localizing in the region, in particular, Promobot manufacturing robots, Cinemood designing mobile TV projectors, Motorica manufacturing bionic artificial limbs, Titan Power Solutions designing supercapacitors, and the Digital Primorye project providing for the implementation of a smart information system. Fund investors: VEB.DV, RUSNANO (part of VEB.RF), and Russian Venture Company (RVC).

Company website: https://www.vostokventures.ru/.

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