Mining and metallurgical industries, members of the holding Metalloinvest - JSC Lebedinsky GOK, OJSC Mikhailovsky GOK, JSC Oskol and OAO Ural Steel - opened in the bank VTB lines of credit totaling $ 61.5 billion rubles, the report said the holding.

partial collateral for lines of credit are guarantees of the Ministry of Finance of Russia on the total amount of 30.75 billion rubles, the contract for which was signed on October 12, 2009. State guarantees are granted in accordance with the decision of the Commission to improve the sustainability of economic development of Russia under the chairmanship of First Deputy Prime Minister Igor Shuvalov in September 2009.

credit lines VTB will be used for primary production activities and capital investments Lebedin and Michael GOKah, OEMK and Ural Steel. Borrowings will be selected enterprises gradually over several years, as required. The total credit load of plants to grow will not be noted in the announcement Metalloinvest.

Credit Line Bank VTB will provide financial stability to our businesses, as well as provide them with working capital in the required amount. Attracted funds to complete the pre-existing investment projects and the implementation of several new investment initiatives to increase efficiency, reduce costs and increase proportion of products with higher added value , - said the financial director of the Criminal Code of Metalloinvest Edward Potapov.
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