VTB Bank has signed RUB 2.6 billion worth of loan agreements with Irkutskenergo, the largest coal and energy company in Eastern Siberia. The loans, to be extended for 1-3 years, will be used to finance operations and for fuel and equipment procurement.
The deals were signed after VTB won three lots in a tender organised by the company.
“Irkutskenergo is VTB’s strategic partner whose importance for the region’s economy and social stability cannot be overestimated,” Yuri Soloviev, First Deputy President and Chairman of VTB Bank Management Board, said. “The bank is ready to continue participating in the company’s tenders and to offer the best conditions for cooperation with it.”
Irkutskenergo supplies electricity and heat to consumers in the Angara Area, including households, small business, farms, public services as well as major mines, industrial companies and manufacturers.
Irkutsenergo is a powerful industrial conglomerate located in the Irkutsk Region and Krasnoyarsk Territory. It runs a cascade of three major power plants (the Irkutskaya, Bratskaya and Ust-Uilimskaya hydropower stations, nine heating stations in major cities on the Angara River, six open-pit coalmines producing hard coal and brown coal (Vostsibugol), two cargo transport departments and an enrichment plant.