North West | Industry, manufacturing | Finance, business

VEB to loan $100m to LSR on brick plant

21 Jun '10
Multi-industry company LSR has announced plans to take out a $100m loan with state-run Vnesheconombank.

The loan terms and interest rate have yet to be disclosed.

Under plans, the funds are to be spent to finish construction of a brick factory in Leningrad region.

Construction of the plant was stopped in 2008. Production is scheduled to be launched in 2010. Total investment into the project is estimated at $200m.
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