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VTB enhances cooperation with MOST Group

22 April 2011

© RIA Novosti, Igor Yakunin

Aiming to enhance cooperation with the MOST Group of Companies, JSC VTB Bank issued a €8.8 mln letter of credit to USK MOST Company and also entered into a loan agreement with the Company for a RUB 1 bln credit line. This April, the Company received the first tranche of the loan amounting to RUB 200 mln, and plans to get the second one of RUB 800 mln this May.

JSC VTB Bank and the MOST Group of Companies have been developing long-standing partnership relations. The Companies of the Group have been using a wide spectrum of the Bank’s products. In order to develop further the bilateral cooperation, the Bank intends to open a credit limit exceeding RUB 10 bln to the Group this May.

For reference

The MOST Group of Companies is a large construction holding comprising 15 motor works and 7 tunnel companies specializing in construction of bridges, tunnels and hydraulic facilities. The Companies of the Group are participating in the construction of the Sochi Olympic facilities.

JSC USK MOST is engaged in the construction and reconstruction of auto and rail-way bridges and roads all over Russia. The Company is the only contractor to construct the bridge connecting the Russky Ireland and the mainland part of Vladivostok, thus implementing the 2012 Vladivostok APEC project.

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