Japanese Project Promotion Vehicle in the Far East LLC signed Services Agreement with Japanese company, Erex Co., Ltd.

Japanese Project Promotion Vehicle in the Far East Limited Liability Company (JPPV) signed on May 16, 2019 a Services Agreement with Erex Co., Ltd. The Services Agreement envisages the provision of necessary conditions to Erex Co., Ltd. for implementation of investment projects in the Russian Far East.

Erex Co., Ltd. is Japanese company expressing interest in setting up production of wood fuel pellets in the Far East of Russia, using the opportunities of preferential regimes of the Advanced Special Economic Zones (ASEZ) and the Vladivostok Free Port (VFP) for the purpose of exporting to Japan to provide power stations with fuel.

JPPV was established on 14 March 2018 as a joint venture company co-founded by Japan Bank for International Cooperation, the Far East Investment and Export Agency and the Far East and Baikal Region Development Fund aiming to support Japanese companies in starting their business in Russia and promoting projects planned to be implemented in Russian Far East to potential Japanese investors.

The cooperation between JPPV and Erex Co., Ltd. will become a practical step forward in enhancement of activity of Japanese investors in Russian Far East using opportunities of ASEZ and contribute to further deepening of economic relations between Japan and Russia.