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.
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.