OREANDA-NEWS. VTB Bank has signed two loan agreements to lend RUB 1.1 billion over two years to Murmansk Heat and Power Plant, a subsidiary of utility company TGC-1. The funds will be used to finance the company’s operations.

“VTB works closely with companies in the energy sector, which have long made up a large portion of the bank’s loan portfolio,” said Denis Bortnikov, a member of VTB Management Board. “We have worked with Murmansk HPP for more than five years, providing a full range of financial services to ensure smooth and uninterrupted operations, which are essential for a combined heat and power plant that is a major supplier of heat and electricity to the households in the Polar region.”

Murmansk HPP has been a VTB client since 2010, using loans, payment and cash services, the Client Bank system and bank deposits.