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VTB finances a joint program launched by JSC Uralvagonzavod and JSC Transneft

11 February 2010

JSC VTB Bank started financing a joint program launched by JSC Uralvagonzavod (the "UVZ") and JSC Transneft to produce 5,400 tanks within the project "Railway transportation of oil from Skovorodino Station to Kozmino Oil Port"

Citing Valery Lukyanenko, a member of VTB Management Board, the Bank’s support will help the UVZ fully use its production capacities, retain more than 11 thousand workplaces, recruit new highly-qualified specialists and reach the pre-crisis performance parameters.

According to the information from the UVZ, thanks to agreements entered into with JSC Freight One and other private carriers, the UVZ has already received orders to supply in 2010 twelve thousand railway open wagons. Totally, the 2010 rolling-stock manufacturing program will exceed 23.5 thousand units, which is a record figure for the past 10 years.

For reference:
JSC Research and Production Corporation "Uralvagonzavod" is a diversified machine building complex established in 1931. The Federal Agency for State Property Management holds 100% of the company’s shares. Presently, the company produces about 100 products of defense technology, road building machines, metal open wagons, specialized wagons, railway tanks and many others.

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