On November 19, as part of the XIII International Forum “Transport of Russia 2019” in Moscow, an agreement of intent was signed between the State Transport Leasing Company (STLC) and RVC to create a joint venture fund.
The signatures under the document in the presence of the Deputy Prime Minister of the Russian Federation Maxim Akimov and the Minister of Transport of the Russian Federation Evgeny Ditrich were put by the General Director of the State Customs Committee Sergey Khramagin and the General Director of RVC Alexander Povalko.
The fund is created to promote high-tech products on the Russian market and to support innovative companies and start-ups that are significant for the development of the transport industry. The priority areas of the Fund will be air, water, rail, passenger and freight land transport, road construction, and road maintenance machinery. The investment focus will also include the technologies of Industry 4.0., Unmanned vehicles, energy-efficient transport, vehicle life cycle management.
The initial target volume of the venture capital fund is three billion roubles. In the future, by agreement of the partners, it may be increased. The declared period of the Fund's activity is ten years with a possible extension by the decision of the participants.
State Transport Leasing Company (STLC) is the largest leasing company in Russia. It leases air, water and rail transportation, automobiles, and special vehicles for domestic enterprises in the transport industry, as well as carries out investment activities to develop the transport infrastructure of Russia. The sole shareholder of the company is the Russian Federation, represented by the Ministry of Transport of the Russian Federation. STLC has credit ratings of the double B category from three leading international rating agencies, as well as a rating on the national scale “A (RU)” from the ACRA agency. As of June 30, 2019, the company's assets under IFRS exceeded 597 billion roubles.