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VTB finances “St.Petersburg Heat-and-Power Engineering Plant” investment project

30 August 2011

© RIA Novosti, Igor Zarembo

As a result of the tender held by St.Petersburg Heat-and-Power Engineering Plant, the North-West Regional Center of JSC VTB Bank has opened a credit line to the company with a RUB 1.4 bln withdrawal limit for 8 years.

The funds will be used to finance a long-term target program named “Construction and Reconstruction of Heat Supply Facilities in the region of Malaya Ohta” developed by the Plant together with the Energy and Engineering Committee of St.Petersburg.

Malaya Ohta is the oldest region of St.Petersburg with historically dense population. As a result, there is very little room for constructing new heat-and-power facilities. The Reconstruction Program scheduled for up to the end of 2012 provides for a large-scale modernization of the heat supply system of the region. The Plant will upgrade all communications and apply the leading-edge technological solutions in the sphere of electric power. When implemented, the project will allow the region to avoid summer breaks in hot water supply and will considerably increase its quality.

For reference:

St.Petersburg Heat-and-power Plant is the largest company of the North-West. Its share in the St.Petersburg heat energy market is about 40%. The Plant has 278 boiler houses which supply heat to more than 2 mln citizens of St.Petersburg.

VTB Bank NWRC was created on the basis of VTB Bank North-West. The Regional Center is in charge of VTB Group corporate business development in the North-West of Russia, and supervises VTB Bank branches located in St.Petersburg, as well as Leningrad, Arkhangelsk, Vologda, Pskov, Kaliningrad, Novgorod, Murmansk, and Kirov Regions, Republics of Komi and Karelia.

More detailed information is available at:

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