Striving to support national defense industry complex, VTB Bank has provided a RUB 825 mln credit line to Uralvagonzavod for a 6-month period. The funds will be channeled to finance the company’s current activities including salary payment, settlements with power engineering companies and metal products suppliers.
Valery Lukyanenko, Member of VTB Management Board said: “Over the last two years, VTB has rendered to Uralvagonzavod a considerable financial support enabling the company to weather the crisis without significant losses“.
Today, the total volume of credit recourses provided by the Bank to Uralvagonzavod has amounted to RUB 8.61 bln.
JSC Uralvagonzavod Research and Production Corporation is a diversified machine building complex established in 1931. The Federal Agency for State Property Management of the Russian Federation holds 100% of the company. Nowadays, the corporation produces about 100 types of different products, including military machines, road construction machinery, all-steel open cars, specialized cars, rail tank cars, etc.