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VTB expands cooperation with Russian Railways

27 December 2012

VTB expands cooperation with Russian Railways @ RIAN, Mikhail Mokrushin

VTB Bank has extended a RUB 30 billion line of credit to Russian Railways (RZhD) as part of its longstanding strategic partnership and mutually advantageous cooperation with Russia’s largest transport company. The financing, extended for a period of two years, will support the company’s operations.

VTB Bank has been working with RZhD since it was established in 2003. “VTB appreciates the company’s dedicated effort to expand it transport business and its commitment to integration with the Euro-Asian transport system,” Vice President Andrey Burlinov said. “RZhD is one of the world’s top three railway operators. VTB Group is ready to provide a full range of financial services to the national leader in this sector in every market where it is present. I am confident that our cooperation will not only promote the growth of VTB and RZhD, but will also make Russia’s economy more competitive in the long run,” he added. 

Russian Railways (RZhD) was established in September 2003 by the Russian Government, which is the company’s sole shareholder. Russian Railways operates one of the world’s largest transport systems, which includes 85,200 km of rail, and accounts for 85.5% of freight shipments in Russia (excluding pipeline transport) and 31.5% of passenger services.

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