Russia is to grant Cuba a state loan of €1,2 billion to Finance the construction units


MOSCOW, October 22. Russia is to grant Cuba a state loan to Finance construction of four units on the territory of Cuba in the amount of €1.2 billion On this, and many other arrangements, has informed journalists the Vice-Premier Dmitry Rogozin following results of the meeting the co-chairs of the Russian-Cuban Commission on trade-economic and scientific-technical cooperation.

The unprecedented loan

“We are for the last 25 years such investments in the Cuban economy have not done, we are talking about a loan exceeding €1 billion,” – said Rogozin, adding: “€1.2 billion”.

The scheme of return of these funds “straight and steady”, so we went to these agreements, understand the Economics of this process and being absolutely confident that the Cuban side is absolutely guaranteed to work for all funds, which the Russian Federation allocated, noted Rogozin. “Cubans are people with whom you can deal with even in such large projects,” he said.

The document granting the loan was signed by the Minister of Finance Anton Siluanov and Deputy Chairman of the Council of Ministers of Cuba Ricardo Cabrisas. They also signed another agreement on granting state export credit to Finance the modernisation and expansion of metallurgical plant “Antillana de Acero. Jose Marti”.

The outcome of the meeting – a package of agreements

In addition, following the meeting signed a package of four documents. Including the intergovernmental Russian-the Cuban agreement on construction of power units at thermal power plants “MAXIMO Gomez and East Havana”, a Protocol between the Ministry of energy of the Russian Federation and the Ministry of energy and mines of the Republic of Cuba on the procedure of realization of the amounts of fuel saved as a result of commissioning of new power units of the TPP “MAXIMO Gomez and East Havana”, and the proceeds are credited to a special account with Vnesheconombank.

Also a contract was signed between the LLC “inter RAO – Export” and Cuban “Energoimport” to increase the capacity of thermal power stations “East of Havana” in Santa Cruz del Norte, at 3 units with a unit capacity of 200 MW, and the “MAXIMO Gomez” in Mariel, on 1 unit capacity of 200 MW, using as fuel the Cuban crude oil. Another agreement signed was the agreement on cooperation between LLC Pharmeco and Cuban company “Uberbyte”.

“Today’s agreement is a breakthrough, – Rogozin said, because Russia is the signing of contracts for the construction of four power plant units “MAXIMO Gomez”, TPP “Eastern Havana”, is the modernization of metallurgical plant “Antillana de Acero” name Saint Marti in Havana in conditions of quite severe sanctions that limit access to credit”. According to Rogozin, the signing of these agreements the Minister of Finance Anton Siluanov, “which shows the will to austerity,” says that the Russian authorities there is full consensus on the principles and forms of interaction with the Republic of Cuba. According to the Russian Vice-Premier, the implementation of these projects, the energy capacity of the island of freedom will increase by 20 percent. “For the Russian Federation is a huge opportunity for the return to Cuba of its technology and its industry”, – said Rogozin.

Cooperation in the field of space

Vice Prime Minister also said that Russia plans to establish centers for the calibration of the GLONASS signal in Cuba. “We are planning with our Cuban friends to discuss the question of the establishment in Cuba of the center calibration of the GLONASS signal,” – said Rogozin.

“It is important for us, – said Deputy Prime Minister. – You know that the United States does not want to place the station GLONASS, and not against Cuba”. Rogozin stressed that for Russia it actually means enhancing the accuracy of global signal of domestic navigation system. In his opinion, control of cosmic space and observation of comet and asteroid danger can also be Cuban territory.

The Vice-Premier said that the end of the year in Havana will be a meeting of the Russian-Cuban intergovernmental Commission. “We will focus on such high-tech projects of our Federal space Agency, now the state Corporation “Roscosmos”, – said Deputy Prime Minister. He added that the huge interest in Russia are the results of work of the pharmaceutical industry of Cuba. “We open the program there by a unique drug, which we hope will save lives and health of thousands, and maybe tens of thousands of people,” Rogozin said.

Russia will help Cuba with aircraft and motor vehicles

Rogozin also said that Russia is ready till the end of the year to open in Cuba aviation repair center. “In the beginning of November will go to our delegation from the company “Helicopters of Russia”, it will examine the full potential, the entire Cuban infrastructure for this centre was established in the nearest time”, – Rogozin said.

He drew attention to the composition of the Cuban fleet is the Il-96, and produced in the Russian Federation Antonov and Tupolev. According to Rogozin, the gradual lifting of the blockade by the US will lead to the fact that Russian aircraft will begin to fly to America from Cuba.

Speaking about plans of the Russian Federation, Rogozin also said that Russia plans to supply Cuba from 700 to 1000 units of vehicles production of KAMAZ. “Along with KAMAZ we are planning to deliver from 700 to 1 thousand units of vehicles. These are big projects, they are interested our industry, is interested in them Cuba, the Cuban people, who wants to live well, properly, freely and adequately in economic terms,” said Deputy Prime Minister.

Rogozin added that Russia is interested to fully upgrade all the equipment that was placed on Cuba during the Soviet era. By his estimation, thousands of lorries, which in the absence of components, assemblies and spare parts are simply standing still. “We’ve made good progress on the Park bus, it is now taken all the essential measures to revive all the bus terminals for the supply that came from the Russian Federation”, – concluded Rogozin.