VTB Bank Branch in Nizhny Novgorod has granted a RUB 3,127,707.500 loan to JSC Nizhny Novgorod Machine Building Plant for a 5-year term.
The loan is aimed at refinancing the debt to the other bank.
Alexei Nasonov, performing the duties of the Branch General Manager, said: “The Plant is a most promising VTB customer in the region and we will be enhancing our cooperation in the future”.
JSC Nizhny Novgorod Machine Building Plant is one of the largest defense enterprises in Russia. The company if focused on military equipment (S-300 surface-to-air missile system, mortar launchers and artillery mounts), nuclear equipment (atomic power plants for ship propulsion and equipment for nuclear power plants), and civil industry products. OJSC "Concern PVO "Almaz-Antey" is a major shareholder of the Plant.