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Saturday, January 20, 2018

VTB extends loan to Sibtruboprovodstroy

VTB Bank recently granted a loan of $41 million to Sibtruboprovodstroy, the largest oil and gas pipeline construction company in Siberia, for a 1.5 year term to finance its current projects.

"Providing financing to companies in the Russian fuel sector is one of VTB Bank's priorities. I hope that our work with Sibtruboprovodstroy will promote the continued development and growth of the company," Yuri Soloviev, the first deputy president and chairman of VTB Bank's management board, said.

Sibtruboprovodstroy was established in 1980 as Novosibirsktruboprovodstroy. It builds oil and gas pipelines and related industrial and social infrastructure, with a focus on storage tank and gas distribution station construction, as well as oil product storage and logistics

VTB Bank is one of Russia's leading universal banks of Russia. VTB Bank and its subsidiaries form leading Russian financial group VTB Group, which offers a wide range of banking services and products in Russia, the CIS, Europe, Asia, Africa, and the U.S.