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On Signing Credit Agreement between Vnesheconombank and LLC Tobolsk Polymer

18 september 2009 года
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In the course of the 8th International Investment Forum “Sochi-2009” State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and LLC Tobolsk-Polymer (a subsidiary of OJSC SIBUR Holding) entered into an Agreement on Providing a Credit Line worth 153 million US dollars.

On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of LLC Tobolsk-Polymer – LLC SIBUR President (Managing Company of OJSC SIBUR-Holding ) Dmitry Konov.

Credit resources are intended for financing the construction of a modern complex in the city of Tobolsk to manufacture polypropylene with a capacity of 500 thousand tons per year on the basis of deep processing of associate petroleum gas.

This is the first credit line to be opened by Vnesheconombank to finance the project.

The complex construction project is being implemented under the Strategy on the Development of Chemical and Petrochemical Industry in Russia for a period of up to the Year 2015 with the cooperation of the Russian Ministry of Industry and Trade and the Tyumen region Government. The project initiator is OJSC SIBUR Holding.

The project is in line with Vnesheconombank’s core investment activities and is aimed at enhancing the efficiency of natural resources utilization and improving the ecological situation.

The project’s implementation would make it possible to create 4.5 thousand jobs and boost the development of a number of industrial sectors, above all those, involved in manufacturing products for the housing and communal services and the auto making industry.

OJSC SIBUR Holding is the largest Russian petrochemical company. The enterprises incorporated in the Holding manufacture more than one hundred petrochemical items.

 

Origin: 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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