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VTB provides additional loan to Mosenergo

 
11 February 2014

VTB Bank has issued a RUB 4.5 billion loan to utility company Mosenergo for five years to finance its operations. The total amount of VTB loans to the utility now stands at RUB 8.25 billion.

Previous loans were issued to Mosenergo as part of credit facilities worth a total of RUB 25 billion.

 
 
 
 
First Deputy President and Chairman of VTB Bank Management Board Yuri Soloviev
«The bank has been seeking to boost its business with energy companies, thereby implementing a programme to increase lending to companies in the real sector of the economy».
Yuri Soloviev,
First Deputy President and Chairman of VTB Bank Management Board

For reference:

Mosenergo is the largest territorial generating company in Russia and one of the largest heat producers in the world. It comprises 15 power stations with the installed electricity capacity of 12,300 MW and thermal capacity of 35,000 Gcal/h. They generate over 60% of the electricity consumed in the Moscow region and approximately 70% of the region’s heat requirements.


Tags:
VTB Bank, lending

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