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VTB Bank issues a RUB 1.23 billion loan to the Kirovsky Zavod Group

24 October 2012

VTB Bank issues a RUB 1.23 billion loan to the Kirovsky Zavod Group.

In the third quarter of 2012, VTB Bank issued RUB 1.23 billion (US$ 38.9 million) worth of loans to companies of the Kirovsky Zavod group for financing of working capital.

The credit limit that the bank set for the group in August 2012 will remain in effect until the end of 2015.

Within that limit, VTB issued RUB1.1 billion (US$ 35.35 million) to the Petrostal metals plant and RUB130 million (US$ 4.18 million) to the Kirov Energomash engineering plant in the third quarter of 2012. 

Kirovsky Zavod, established in 1801, is one of Russia’s oldest industrial enterprises in the metals and engineering sectors. The Group currently manufactures and markets metal products, including: rolled products; steel, iron and non-ferrous metal castings; forged and stamped products; machinery and equipment, including farm machinery, road construction equipment, utilities and logging equipment, and various kinds of wheeled, full-tracked and combined vehicles for defence and civilian applications; power generation equipment, including both primary and auxiliary equipment for nuclear and thermal power plants, oil and gas, shipbuilding and other industries, as well as general industrial units; and metal structures, parts, units and components for mechanical engineering. It also performs overhaul and upgrade projects for metal-working and metal-cutting equipment, including unique and heavy machine tools.

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