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VTB lends to SUEK

 
24 December 2008

VTB Bank has provided to OJSC SUEK-Kuzbas regional mining subdivision of Siberian Coal Energy Company (SUEK) a RUB 2.5 billion loan for a one-year period to finance current activities and develop production capacity.

VTB and the largest coal company in Russia have maintained long-term partnership relations since 2004. Over the period the parties have implemented more than 230 deals.

In developing partnership relations with the coal enterprises, regarded by the Bank as a priority business line, VTB implements a comprehensive customer-oriented approach at all stages of business growth and diversification through offering a full range of banking products and services.

For reference:

OJSC Siberian Coal Energy Company (SUEK) is the largest coal company in Russian, one of the world leading coal producers and exporters (ranked 6th by output). SUEK is a core private investor in the power generation sector, in particular, it holds strategic stocks in a number of Siberian and Far Eastern power generation companies with an installed capacity of 13 GW.

OJSC SUEK-Kuzbas carries out mining and other types of activities related to exploitation of mineral deposits, mining and processing of coal by the SUEK enterprises in the Kemerovo region.


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