JSC VTB Bank has set a RUB 1.4 bln documentary limit for JSC Metrostroy (St.Petersburg).
This January, the Bank issued two guarantees within the limit at the request of JSC Metrostroy in favor of the Russian Ministry of Regional Development totaling RUB 320 mln.
The guarantees are to ensure the performance by JSC Metrostroy of its obligations to build utilities and tunnels within the framework of constructing the Flood Defense Complex for St.Petersburg.
JSC Metrostroy is the largest construction company involved in building and reconstructing metro tunnels in St.Petersburg. The company is also engaged in such large projects as the Flood Defense Complex, Leningradskaya Nuclear Power Plant-2, the North European Gas Pipeline, Zagorskaya Pumped Storage Power Plant-2, etc.
JSC Metrostroy has been actively cooperating with JSC VTB North-West. The total volume of the company’s business with VTB Group’s banks has exceeded RUB 10 bln.