VTB Bank has issued a two-year RUB 1.41 billion guarantee to Ufa-based Bashkiravtodor, as part of its strategy of developing its business with infrastructure management companies.
The guarantee concerns the fulfillment of a two-year state road maintenance contract the company signed for 2014-2015. The contract involves the maintenance and repair of regional and municipal public roads in the Volga region of Bashkortostan.
“The development of infrastructure industries contributes towards meeting a wide range of social and economic targets,” said Valery Lukyanenko, member of VTB Bank Management Board. “One of VTB’s key aims is to support companies in this sector.”
Bashkiravtodor is the parent company of Bashkortostan’s road construction industry, servicing the region’s 24,016-km network of public roads. The company operates a large fleet of construction and road-maintenance equipment, and owns several asphalt and concrete plants. In addition to road construction, repair and maintenance, the company manufactures building materials and structures, provides engineering services, as well as transport and logistics.