Rosneft to choose priority projects to receive funds from NWF

All 28 applications of Rosneft for the funds of the National Welfare Fund can’t be approved as their total amount exceeds the free limit of the Fund, the Ministry of Economic Development said.

The Ministry of Economic Development considers the applications of Rosneft for financing of the projects from the NWF but all the applications can’t be approved. So the company needs to set up priorities, the deputy Minister of Economic Development, N. Podguzov, said.

Rosneft has submitted 28 applications that in total make up a significant part of the company’s investment program and require large financing. The volume of the required funds exceeds the volume of the NWF that can be used for this purpose.

On the results of the strategic analysis of all the applications the decision on the co-financing of one project of Rosneft has been made – the “Zvezda” shipyard but a complex analysis of the application will be held by this project.