Aiming to support enterprises of the power-plant industry, VTB Bank participates as a guarantor bank in the construction of power unit 3.1 of Nizhnevartovskaya GRES power plant. General contractor under the project is JSC Foreign Economic Association Technopromexport.
Upon instruction of JSC Technopromexport, in July 2011 VTB issued two bank guarantees totaling RUB 2.9 billion in favor of CJSC Nizhnevartovskaya GRES.
“VTB participation in the project is a new step in strengthening partnership relations between two state-controlled holdings, VTB Group and State Corporation Russian Technologies, which owns JSC Technopromexport”, Valery Lukyanenko, member of VTB Bank Management Board, said.
JSC Foreign Economic Association Technopromexport is a large Russian engineering company (it has been in the market since 1955). Over its history, JSC Technopromexport as a EPC contractor successfully completed over 400 foreign and domestic energy projects (including turnkey construction of power plants and other facilities).