Since the beginning of 2016, VTB has issued banking guarantees at the request of Kazancompressormash, a compressor manufacturing subsidiary of the Hydromashservice group (HMS Group), to finance its obligations under a contract and to repay an advanced payment of over RUB 1.45 billion. Under a general contract the bank signed with the Kazan-based company in 2015, it has issued guarantees worth more than RUB 2.88 billion.
«VTB Bank has offered HMS Group a wide range of banking services and products. The bank guarantees provided to Kazancompressormash will enable the company to work with counteragents more effectively, to avoid lengthy diversions of funds from working capital and to take part in tenders for large contracts».
member of VTB Bank Management Board
HMS Group is a dynamically developing and diversified holding company with huge research and production potential in the creation and production of pumps, compressors and skid-mounted equipment for the oil and gas sector, pipelines, nuclear and thermal power generation, water services, housing and utilities.
The Group has accumulated considerable experience delivering turn-key projects and supplying multi-purpose equipment to oil and gas, water supply and sewage projects.