Russia's VTB Bank has issued a two year, $42 million guarantee to the Ufa-based Bashkiravtodor as part of its strategy of developing its business with infrastructure management companies.
The guarantee concerns the fulfillment of a two year state road maintenance and repair contract the company signed for 2014-2015 in the Volga region of Bashkortostan.
"The development of infrastructure industries contributes towards meeting a wide range of social and economic targets," Valery Lukyanenko, a member of VTB Bank's management board, said. "One of VTB's key aims is to support companies in this sector."
Bashkiravtodor operates a large fleet of construction and road-maintenance equipment and owns several asphalt and concrete plants.
In addition to road construction, repair and maintenance, the company manufactures building materials and structures and provides engineering services as well as transport and logistics.
VTB Bank and its subsidiaries form VTB Group, a leading Russian financial company offering a wide range of banking services and products in Russia, CIS, Europe, Asia, Africa and the U.S.
- ANELIK BANK - ARMENIA: IDBank has a new board chairman
- ABN AMRO SERVICES COMPANY: ABN AMRO to make more sustainability information available to investors
- CENTRAL BANK OF AZERBIJAN: The Central Bank trained primary school teachers as a pilot project
- BELARUS MINISTRY OF FOREIGN AFFAIRS: Belarusian Foreign Ministry hosts a round table on the occasion of the 100th anniversary of the modern Belarusian diplomatic service
- ARMECONOMBANK - ARMENIA: Armeconombank and singapore-Based EFA Financial Institutions Debt Fund PTE. LTD. Investment Company Signed a Loan Agreement
- ASIAN DEVELOPMENT BANK: ADB Sends Condolences to Indonesia in Wake of Tsunami Disaster
- ARDSHININVESTMENTBANK - ARMENIA: Ardshinbank announces New Year deposit
- AG BANK: Happy birthday, Mr. President!
- BASIS BANK - GEORGIA: Hurry up! The action started on mortgage loans in GEL!
- BALTIC INTERNATIONAL BANK - UKRAINE: Opening hours for the Christmas holidays