On Purchasing the Amurmetall Group's Shares by Vnesheconombank

State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ signed a preliminary agreement providing for the possibility of purchasing 100% of the Amurmetall Group’s shares.

The documents were signed in the city of Khabarovsk in the course of a meeting over the Far East Development conducted by Russian Prime Minister Vladimir Putin.

In pursuance of the project “The Completion of OJSC Amurmetall’s Investment Program and the Restoration of its Financial Stability”, Vnesheconombank plans to purchase OJSC Amurmetall’s shares as well as open a credit line for OJSC Amurmetall.

Vnesheconombank’s participation in financing this project was approved by its Supervisory Board in June of 2009.

The implementation of the project would allow the Amurmetall Group to increase its production capacity from 1 million to 2.1 million tons of steel per year and secure its profitable operation and retain jobs in the Khabarovsk region.

The Amurmetall Group is included in the list of system-forming enterprises approved by the Governmental Commission on Sustainable Development of the Russian Economy. OJSC Amurmetall is the only modern steel-making plant in the Far East producing steel with the use of electric furnace steelmaking technologies. About 6100 workers are employed at the steelmaking plant.

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 

Latest News To the attention of BSGV's Kaluzhskoe branch clients Rosbank became a partner of Saint-Petersburg lending assistance to SMEs Fund VEB to Increase Support for Small Enterprises by 10 Billion Rubles to 40 billion Rubles The international rating agency Moody's confirmed LOCKO-Bank’s ratings To Avoid the Watch List a Client Should Come to an Understanding with a Bank B.I.N.BANK has refinanced the debt of Agrotorg-Rostov: X5 Retail Group is to acquire Pyaterochka franchisee in Rostov region Moody's has updated the Credit Opinion on B.I.N.BANK “UkrSibbank” and Rozetka.ua Online Electronics Store: Wide Range of Electronics at Favourable Prices at Two “UkrSibbank” Outlets in Kyiv OJSC “All Ukrainian Joint Stock Bank” fulfills its obligations on series F offer and pays out interest income on bonds series F B.I.N.BANK has launched a new credit product

The credit portfolio of the Volgograd branch of the Bank of Moscow has topped 8 billion roubles The branch is working successfully both in lending to legal entities and individual entrepreneurs, the volume of loans amounting to 5.3 billion roubles, and in the sphere of lending programmes private individuals. [Read...]