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VTB provides financing to Murmanskaya power plant

 
8 July 2013

©www.tgc1.ru

VTB Bank has signed a RUB 1.1 billion loan agreement with the Murmansk Combined Heat and Power Plant. The revolving credit line will be provided for two years and used to finance the company’s operating costs, such as the purchase of fuel oil. 

The Murmansk plant is a subsidiary of territorial generation company TGC-1. The company has been working with VTB’s Murmansk branch since 2010, taking out loans and using its cash management and payment services.

For reference:

The Murmansk Combined Heat and Power Plant generates and distributes heat and maintains heating equipment. The heat produced is supplied to customers under contract. The company mainly serves Murmansk residents and local industrial companies. The company runs three large boiler rooms, each serving a designated part of the city: the boiler-and-turbine plant serves central Murmansk, Boiler Plant No. 1 serves the southern area, and Boiler Plant No. 2 serves the eastern part of the city.

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