OREANDA-NEWS. April 15, 2011. VTB Group has announced the completion of a joint project of VTB Bank Krasnoyarsk branch, VTB Leasing Krasnoyarsk representative office, and Sibugol Limited Liability Company, reported the press-centre of VTB Group.

Under the project, Sibugol leased 30 Scania tractor-trailer vehicles for a total amount of RUB 172 million to increase transportation of brown coal, in particular, under a coal supply contract with OGK-4 (Berezovskaya GRES). Sibugol and VTB Bank Krasnoyarsk branch also entered into loan agreements for a total amount of RUB 83 million to finance contract expenses.

“Financing extraction industries is a priority business line for VTB Bank. Joint projects with VTB Group subsidiaries allow us to provide a full range of services for our customers to satisfy their current needs to the fullest extent", Svetlana Balakhnina, Deputy Branch Manager of VTB Bank Krasnoyarsk Branch, said.

For reference:
Sibugol Limited Liability Companyhas been engaged in open-pit mining of brown coal (Russian 3B grade) in Balakhtinskiy District of the Krasnoyarsk Territory since 2008. High quality of produced coal allows the company to annually increase its sales.