VTB Bank lent RUB 1.5 billion to Far Eastern Generating Company (FEGC). The company held a tender in March 2011 which resulted in VTB granting funds to FEGC. The loan will be used to support the company’s ongoing business.
Cooperation of VTB and FEGC has been developing since 2006. Apart from loan provision, VTB performs international settlements, currency exchange regulation, settlement services and settlement account balance management for the company. Overall credit limit set by the Bank for JSC Far Eastern Generating Company is RUB 6.5 billion.
JSC Far Eastern Generating Company is among the Russian largest territorial generating companies operating at the territory of five Far East regions.The company is mainly focused on production of thermal and electric power. FEGC also provides district heating to consumers in the power plant areas and supplies thermal power to end consumers.