Following an open tender held by Yantarenergo in July 2011, VTB Bank North-West Regional Center granted a RUB 280 million facility maturing in 3 years.
The funds will be channeled to finance production and economic activity of the company, to modernize and upgrade its capital assets, and create technical feasibility of connecting users to electric power networks.
JSC Yantarenergo is a distribution grid company, which transmits and supplies end users with electric power, and provides services on technological connection of users to its networks. The company is a natural monopoly in the electric power transmission and supply market of the Kaliningrad Region. After the reorganization of RAO UES of Russia, 100% of the company’s shares are held by JSC Holding MRSK.
North-West Regional Center was established on the basis of the Head office of VTB Bank North-West. The Center is in charge of developing VTB Group business with corporate customers in the Northwest of Russia and supervises VTB Bank branches located in St.-Petersburg as well as Leningrad, Arkhangelsk, Vologda, Pskov, Kaliningrad, Novgorod, Murmansk, Kirov regions, Republics of Komi and Karelia.
More details are available at: www.szrc.vtb.ru