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VTB Group helps to develop extraction in the Krasnoyarsk Territory

12 April 2011

VTB Group helps to develop extraction in the Krasnoyarsk Territory.

VTB Group has announced the completion of a joint project of VTB Bank Krasnoyarsk branchVTB Leasing Krasnoyarsk representative office, and Sibugol Limited Liability Company. Under the project, Sibugol leased 30 Scania tractor-trailer vehicles for a total amount of RUB 172 million to increase transportation of brown coal, in particular, under a coal supply contract with OGK-4 (Berezovskaya GRES). Sibugol and VTB Bank Krasnoyarsk branch also entered into loan agreements for a total amount of RUB 83 million to finance contract expenses.

“Financing extraction industries is a priority business line for VTB Bank. Joint projects with VTB Group subsidiaries allow us to provide a full range of services for our customers to satisfy their current needs to the fullest extent", Svetlana Balakhnina, Deputy Branch Manager of VTB Bank Krasnoyarsk Branch, said.

For reference:

Sibugol Limited Liability Companyhas been engaged in open-pit mining of brown coal (Russian 3B grade) in Balakhtinskiy District of the Krasnoyarsk Territory since 2008. High quality of produced coal allows the company to annually increase its sales.

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