VTB has issued guarantees worth over $60.9 million on behalf of RZD International, a subsidiary of Russian Railways (RZD), to finance the company’s obligation to build new and renovate existing railway networks in Serbia and supply diesel-powered trains. The ultimate objective of the project is to build a modern railway infrastructure that will allow Serbian trains to increase rail speed from 30 km/h to 120km/h and on some parts of the lines, trains will be able to reach 200 km/h.
“VTB supports many socially significant projects of RZD, both in Russia and in other countries, by providing the RZD’s subsidiaries a complete package of transaction solutions. The guarantees that VTB Bank has extended to RZD International will allow the company to refrain from using working capital for the duration of implementing this contract,” said Viktoria Vanurina, a member of VTB Bank Management Board.
RZD International is a special-purpose engineering subsidiary of Russian Railways (RZD) that offers a complete package of railway construction services and technologies, from pre-feasibility studies to the elaboration and implementation of turn-key projects in any country.
RZD International implements projects in Europe, Asia, Africa and South America.