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VTB Bank provides credit to Spring Investment

 
29 May 2014

© photoexpress.ru

VTB Bank has opened a five-year credit line worth RUB 900-million to Spring Investment to build a hotel in St Petersburg.

Commenting on the deal, Deputy President and Chairman of the VTB Bank Management Board Mikhail Oseevskiy said: "VTB is always eager to support infrastructure projects of importance for Russian regions, and projects that make cities more modern and comfortable. We are happy to continue our cooperation with Spring Investment; in 2013, VTB issued the company a loan for a hotel project in Nizhny Novgorod."

"I am sure that our new project, which we are implementing with VTB Bank’s support, will be a success," Spring Investment Director General Irina Surnina said. "We expect that, in accordance with our plans, a new world-class hotel will be open for business in Russia’s second capital in the first half of 2016."

For reference:

Spring Investment is a Nizhny Novgorod-based company specialising in the hotel and restaurant business, and construction.


Tags:
lending

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