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VTB provides credit to Liskimontazhkonstruktsiya

29 July 2015

VTB provides credit to Liskimontazhkonstruktsiya.

VTB Bank has opened a credit line with a limit of RUB 1.4 billion for five years to Liskimontazhkonstruktsiya under the federal support programme for project finance investments in Russia. The loan will help to finance a project to develop large-diameter durable pipes.

Deputy President and Chairman of VTB Bank Management Board Mikhail Oseyevsky signed an agreement with the company on a visit to Voronezh.

«We believe Liskimontazhkonstruktsiya has great development potential," Mikhail Oseyevsky said. «This company has a good financial track-record and a solid market position. Funding from VTB will help it enhance capacity and develop new, innovative products and upgrade existing technology.»

Liskimontazhkonstruktsiya CEO Nikolai Belokonev said: «Working with VTB Bank allows us to promptly obtain funds for our current financial and economic operations, receive bank guarantees and hedge currency risks. Thanks to the bank’s support we are now carrying out our ambitious plans to launch a new technology line.»

Liskimontazhkonstruktsiya manufactures and sells steel pipes and fittings for oil-and-gas companies. These products are necessary for building major oil and gas pipelines in cold temperatures and deep waters during the development of shelf deposits and for creating multi-layered external and internal insulation. The plant has been in existence since 1954 and is a major producer of steel pipes and fittings for the oil-and-gas sector, the chemical industry, the nuclear and thermal power industries, and utilities throughout Russia. It exports seven percent of its products, primarily to Kazakhstan, Ukraine, Latvia, Turkmenistan and Belarus. Every year the plant increases its production by seven to ten percent.


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