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VTB to finance locomotive projects for Russian Railways

20 February 2015

VTB to finance locomotive projects for Russian Railways

VTB Bank has signed financing deals worth RUB 15 billion with locomotive manufacturers to supply the country’s national rail operator, Russian Railways (RZD).

The bank has signed loan agreements for RUB 10.8 billion with Roslokomotiv (the trading house of Transmashholding Group), RUB 1 billion with Sinara TM and RUB 3.3 billion with Ural Locomotives.

Transmashholding and Sinara will use the financing to fulfil agreements for the supply of locomotives to RZD as part of its fleet renewal programme.

This deal is an important part of the government’s policy to support domestic manufacturers through VTB, which is a systemically important bank. VTB Bank is committed to continuing this work in close cooperation with the Government of the Russian Federation.

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