05.04.2016, 01:33
EDB and Russian Towers Sign RUB 2 billion Loan Agreement
OREANDA-NEWS. Eurasian Development Bank (EDB) and Russian Towers made a ten-year, RUB 2 billion loan agreement to finance construction of a network of cell towers in Russia. The agreement was signed by Konstantin Limitovsky, Deputy Chairman of the Bank's Management Board, and Alexander Chub, President of Russian Towers. The amount of loans extended by EDB, including the loan facility opened earlier, will now total RUB 4 billion.
The project intends to construct and upgrade the existing cell towers and purchase new ones for shared use by mobile network operators in Russia.
An important part of the project is to introduce new types of structures to ensure smooth and quick installation of telecommunications equipment in Moscow, Moscow Region, Krasnodar Krai, Tatarstan, and other regions of Russia, as well as along transport routes.
The project plans to advance the telecommunications infrastructure and improve the competitiveness and quality of mobile services in Russia and, as a consequence, to promote tariff reductions. The towers market is being expanded to meet the growing demand of mobile network operators for greater coverage and develop the relatively new 4G/LTE networks.
The project's tax payments over the lending period may be as high as RUB 2.2 billion. It is also expected to create new jobs.
Alexander Chub, President of Russian Towers, says that, "Russian Towers appreciate EDB's support. This agreement is an opportunity for us to continue to build the telecommunications infrastructure in Russia at a high pace, to launch new projects, and remain a leader in the high-tech market. This is not our first project with Eurasian Development Bank. With time, our partnership with the bank may extend to our CIS projects."
Konstantin Limitovsky, Deputy Chairman of the EDB Management Board, points out that, "The Bank's participation in the project will help to develop a new segment in the market and improve the telecommunications infrastructure and the quality of communications and data transfer in our country."
The project intends to construct and upgrade the existing cell towers and purchase new ones for shared use by mobile network operators in Russia.
An important part of the project is to introduce new types of structures to ensure smooth and quick installation of telecommunications equipment in Moscow, Moscow Region, Krasnodar Krai, Tatarstan, and other regions of Russia, as well as along transport routes.
The project plans to advance the telecommunications infrastructure and improve the competitiveness and quality of mobile services in Russia and, as a consequence, to promote tariff reductions. The towers market is being expanded to meet the growing demand of mobile network operators for greater coverage and develop the relatively new 4G/LTE networks.
The project's tax payments over the lending period may be as high as RUB 2.2 billion. It is also expected to create new jobs.
Alexander Chub, President of Russian Towers, says that, "Russian Towers appreciate EDB's support. This agreement is an opportunity for us to continue to build the telecommunications infrastructure in Russia at a high pace, to launch new projects, and remain a leader in the high-tech market. This is not our first project with Eurasian Development Bank. With time, our partnership with the bank may extend to our CIS projects."
Konstantin Limitovsky, Deputy Chairman of the EDB Management Board, points out that, "The Bank's participation in the project will help to develop a new segment in the market and improve the telecommunications infrastructure and the quality of communications and data transfer in our country."
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