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Vneshtorgbank is to finance MosTransAvto vehicle fleet

27 July 2006

Vneshtorgbank (VTB) is going to allocate over 4 billion roubles for MosTransAvto bus fleet modernisation.

VTB-Leasing, a specialised subsidiary of the Bank, will provide funding and buy 600 new Mercedes Benz Conecto H buses. The vehicles will be transferred to MosTransAvto for a 4-year term under a financial lease. EvoBus Russland, an agent for DaimlerChrysler in Russia, will deliver buses.

The vehicles will be used to carry passengers in suburban and international routes. This project implemented together with VTB-Leasing will enable MosTransAvto to substantially renew its bus fleet on optimum terms and conditions.

VTB is engaged in close co-operation with transport sector, offering a wide range of banking services to major domestic railway, air, water and road carriers. Total documentary limits set on the sector by Vneshtorgbank exceed USD 2 billion. Loans made to this corporate segment in 2005, were in excess of USD 1 billion.

For reference:
MosTransAvto, State-run unitary enterprise, deals with carriage of passengers in Moscow City and the Moscow Region by public transport, commercial transport and fixed route taxi-buses. It is also engaged in carriage of goods, maintenance and technical service of motor vehicles. The car fleet owned by MosTransAvto comprises over 6,000 buses. Passenger carriage services cover 39 districts, 74 towns and over 5,600 villages and rural communities. The existing network includes more than 1,200 routes with 30,500 km in extension. In 2005,  MosTransAvto carried over 760 million passengers.

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