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Thursday, August 24, 2017

Bank of Moscow extends $9.7 million credit facility to Yakutia utility firm

The Bank of Moscow announced on Tuesday that the Khabarovsk branch has opened a six-year credit facility of $9.7 million for Namkommunteploenergo.

Namkommunteploenergo, which supplies heat and water to residential, production and social facilities in the Yakutia Republic's Namsky district, will use the funds for the procurement of equipment, materials and components.

The company owns 18 productions sites, gas facilities and a road transport shop, and maintains 83 boiler houses.

"The Bank of Moscow has accumulated vast experience of cooperation with housing and utilities enterprises, and we are glad that, by providing financing to Namkommunteploenergo, we can support the utilities sector in the Namsky District, Republic of Sakha (Yakutia)," Yevgeny Monin, the director of the sales management department at the Bank of Moscow, said.