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VTB develops cooperation with NefteGazIndustriya Group

31 August 2011

© RIA Novosti, Nikolay Lazarenko

VTB Bank opened a USD 80 million facility to OOO Neftegazindustriya, maturing in 6 months. The funds were channeled to finance the company’s current operations, including the purchase of crude oil. The facility was granted under the total limit of RUB 12 billion set by the Bank for NefteGazIndustriya Group of Companies.

Citing Nikolay Ustinov, VTB Senior Vice-President, “VTB is willing to develop long-term partnership relations and provide funding for projected investment projects of NefteGazIndustriya Group. I am sure that the Bank’s financial support will facilitate the company’s business development and its successful transformation into a vertically integrated holding”.

For reference:

NefteGazIndustriya Group of Companies is the operator of OOO Afipsky Refinery, a major oil refinery plant. The Krasnoyarsk Territory-based enterprise produces fuel oil, diesel fuel, jet kerosene and export-grade technological gasoline. The refinery’s annual production capacity is 4.2 million tons of oil.

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