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VTB approves Transbunker loan

 
17 February 2014

© www.transbunker.com

VTB Bank has granted Transbunker Group USD 17mln in long-term investment financing over five years to acquire assets for production expansion.

The bank will finance the first stage of an oil terminal project at the Ust-Luga commercial seaport in northwest Russia. The total volume of joint VTB and corporate investment in the project is currently estimated at USD 50mln for 2014.

First Deputy President and Chairman of VTB Bank Management Board Yuri Soloviev said, "Transbunker is a fast-growing group. We have worked with them since 2003. We are ready to provide Transbunker with a range of investment and banking services in order to strengthen our relationship with them."

For reference:

Transbunker Group is a major independent bunkering company in the CIS. Established in 1991, the Group, in addition to bunkering, is engaged in refining, storage, transshipment, and the sale of oil products. It operates a fleet of fuel vessels and tankers and owns an oil refinery and oil transshipment terminals.

The Group has seven transshipment terminals with a total capacity of 340,000 cubic metres. Transbunker Group oil terminals are located in three strategic regions: the Russian Far East, the Port of Novorossiysk, and at Ukrainian Black Sea ports.


Tags:
oil, lending

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