VTB has closed a RUB 7 billion credit deal with Atomstroyexport underwritten by the Russian Agency for Export Credit and Investment Insurance (EXIAR). Russia’s largest atomic industry subcontractor will direct the funds to realize the construction project of Kudankulam nuclear power plant in India.
EXIAR’s participation allowed the optimization of Atomstroyexport’s costs during the export contract execution due to favorable credit terms granted by the bank using export financing instruments.
VTB First Deputy President and Chairman of VTB Bank Management Board Yuri Soloviev said: “Our successful collaboration with EXIAR allows us to offer the bank’s clients advanced financial solutions for the execution of export contract deals. We plan to continue mutually beneficial cooperation with Atomstroyexport and EXIAR to further grow Russia’s export potential.”
Atomstroyexport is the Rosatom State Corporation’s leading foreign trade engineering company for the construction of nuclear power plants abroad. Atomstroyexport is currently working on contracts to build five nuclear power units abroad and is the only company in this industry that has NPP reference units with new-generation VVER/PWR reactors, such as Tianwan NPP in China.