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VTB credits Lenfilm

20 June 2013

VTB credits Lenfilm.

VTB Bank and OAO Lenfilm have signed an agreement for RUB1.53bn in credit at the St Petersburg International Economic Forum.

The agreement was signed by First Deputy President and Chairman of the VTB Management Board Yuri Soloviev and Lenfilm General Director Eduard Pichugin.

The credit line runs for ten years and will be secured by government guarantees. It will facilitate a modernisation project at Lenfilm, including renovation of film studios, acquisition and installation of modern equipment and the construction of a new studio at Lenfilm’s branch in Sosnovaya Polyana.

"Film production is rapidly developing in Russia today," First Deputy President and Chairman of VTB Bank Management Board Yuri Soloviev said. "We see a lot of interest in Russian films in this country. Lenfilm is a unique asset with vast development prospects. Given the government’s attention to this film studio, we are confident that this is a very profitable project."

"We are carrying out President Vladimir Putin’s instruction to preserve and develop Lenfilm," Lenfilm General Director Eduard Pichugin said. "We have completed the preparatory work to enable the start of equipment supplies and overhauls at buildings and pavilions. Thanks to the VTB credit line, Lenfilm will emerge as one of the most modern studio complexes in Europe."

"Our main task is to create a strong team of specialists, who will both service up-to-date filming equipment and make films worthy of the history of this great film studio," Chairman of Lenfilm’s Board of Directors Fyodor Bondarchuk said. "We are reviving the Russian movie industry. Specialists are coming back to the studio and the film studio’s workshops are being rebuilt. Lenfilm’s state-of-the-art equipment will lead the famous studio to the vanguard of the Russian film industry."

Founded on 30 April 1918, Lenfilm Studio is located on Petrogradskaya Storona in the centre of St Petersburg.

The studio provides a full range of cinema and TV production services.

Covering an area of 4 hectares (40,000 square metres), its ten buildings house four operating pavilions and a number of workshops: scenery, preparatory, cutting, filming equipment, light and sound equipment. There are also a make-up studio and a storage facility for costumes and props. The film studio owns a branch at Sosnovaya Polyana in southern St Petersburg.

Lenfilm’s rich collection of original historical props (over 130,000 depositary items) rivals museum collections.

In all, the film studio has produced over 1,500 full-length fictional films.


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