JSC VTB Bank has provided a RUB 825 mln loan to Uralvagonzavod for financing the company’s current activity and a EUR 3 mln guarantee for participating in the auction to purchase assets of the French company IGF INDUSTRIES ARBEL FAUVET RAIL. The loan and the guarantee were issued within the RUB 12 bln documentary credit limit approved in late June 2010.
Valery Lukyanenko, Member of VTB Management Board said: “The limit set will enable the company to benefit from a wide range of VTB services and duly implement its current tasks”.
For reference: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 200 types of different products, including military machines, road construction machinery, all-steel open cars, specialized cars, rail tank cars, etc.