Urals | Industry, manufacturing | Finance, business

Urals Steel to open $294m LOC with VTB

16 Sep '09
Orenburg region steel company Uralskaya Stal (Urals Steel) intends to open a $294m line of credit with VTB Bank, Kommersant reports.

The loan is reportedly to be secured by $147m state guarantees.

Under plans, the funds are to be used to finance the ongoing project to launch a blast furnace and two casting machines.

Urals Steel is a part of Metalloinvest holding.
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