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On Signing a Credit Agreement between Vnesheconombank and the China State Development Bank

14 june 2009 года
#News
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the China State Development Bank (the CDB) entered into a Credit Agreement for an amount of 310million US dollars.

On behalf of the Russian side the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of the Chinese side – by CDB Board Director Chang Yuan.

Under the Agreement, funds being made available to Vnesheconombank are intended for financing the project to build a cement factory in the city of Slantsy of the Leningrad region. The project provides for setting up a full cycle production of quality cement with a total capacity of 1.86 million tons of cement per year.

The implementation of the project would make it possible to cut down production costs by way of employing unique technological equipment with the use of slate production waste as a raw material. The employed modern cement manufacturing technology provides for resource saving and reduced power consumption as well as for improving the ecological situation in the Slantsevyi district of the Leningrad region. The factory’s construction would help create at least 450 new jobs.

The project is being implemented by the LSR Group which is the largest developer and manufacturer of construction materials in the North-West Federal District .

 

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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