Kazan and Sberbank have signed an agreement on the renovation of the river port area at the EEF-2022

Rustam Minnikhanov, Ilsur Metshin and Alexander Vedyakhin took part in the ceremony.

Today, at the Eastern Economic Forum, Kazan and Sberbank have signed an agreement on the renovation of the river port area in the capital of Tatarstan. The total amount of investments allocated for the development of this site will be 500 billion rubles. The Mayor of Kazan Ilsur Metshin and Alexander Vedyakhin, the First Deputy Chairman of the Board of Sberbank, signed the agreement. Tatarstan President Rustam Minnikhanov took part in the ceremony.

The agreement involves Sberbank's participation in structuring transactions related to financing projects for the comprehensive renovation of a decaying industrial zone in the river port area. The development will affect an area of 287 hectares.

“The development of the river port area of Kazan is one of the key growth points of our city. In addition to improving housing conditions for residents of the republic and its capital, it will provide for job creation and engagement of various specialists”, - Tatarstan President’s Press Office quotes Rustam Minnikhanov.

Ilsur Metshin stressed that the renovation of Portovaya Street will be carried out as part of the comprehensive development of the area. “Today we have taken another step towards fulfilling our dream – to open an access to the Volga River for Kazan and create a multifunctional residential area with world-class architecture on this unique territory. We plan that during the renovation of this beautiful location, the best urban practices will be applied and an environment will be created that will attract residents, tourists, investors from all over Russia. We are happy that Sberbank will act as a partner for the development of this area”, - Ilsur Metshin said.

“Today we have signed an important agreement that will allow to speed up the development of the technological part of the urban infrastructure of Kazan. According to our estimates, the volume of investments in the comprehensive development of the city can reach up to half a trillion rubles, and Sberbank is ready to act as the main financial partner for the implementation of this ambitious goal”, - Alexander Vedyakhin noted.

In addition, an agreement was signed on the construction of the first residential area with an area of 6 hectares as part of the renovation of Portovaya Street.

For reference, Tatarstan President Rustam Minnikhanov came up with the idea of a comprehensive renovation of the area along Portovaya Street.

It is planned that 1.5 million square meters of housing and 1.3 million square meters of business premises will appear on the territory of 287 hectares. The area of landscaping will be not less than 25% of the area of the projected territory, including a landscaped embankment.

It is expected that the project of large-scale development of Portovaya Street will implemented in 10 years.