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Vnesheconombank to Participate in Extending Syndicated Loan to Ecuadorian Company HIDROTOAPI E.P.

12 april 2011 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, CJSC Roseximbank, OJSC Gazprombank, Gazprombank, (Switzerland) Ltd, Russian Commercial Bank (Cyprus) Ltd and HIDROTOAPI E.P. Company (the Republic of Ecuador) entered into a Loan Agreement.

Under the Agreement the banks are to extend credit resources for a total amount of up to 123.3 million U.S. dollars to Ecuadorian Company HIDROTOAPI E.P. for a period of 11 years.

CJSC Roseximbank acted as the arranger bank and the paying agent.

The credit resources will be used to fund the supplies of Russian power engineering equipment to the Republic of Ecuador under the export contract between HIDROTOAPI E.P. and OJSC INTER RAO EES to build the Sarapul and Alluriken hydroelectric power stations as well as the Toachi Mini Hydroelectric Power Station (the Toachi-Pilaton Project).

The Toachi-Pilaton Project’s implementation would help to boost the manufacturing of Russian high technology products and secure Russia’s comeback into the Latin American hydro engineering equipment market as well as enhance economic, scientific-technical and trade cooperation between the Russian Federation and the Republic of Ecuador.

 

Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7(495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru


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