South West | Real estate | Finance, business

IFC and Black Sea Bank loans $30m to Espro

19 Oct '09
Developer Espro has taken out a $30m syndicated loan with World Banks International Finance Corporation (IFC) and Black Sea Trade and Development Bank (BSTDB), the company reports.

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

Under plans, the funds are to be invested in construction of an A-class office and logistics complex, to be named Kulon-Yugros, in Stavropol region.

The complex is reportedly to be built on an 8.95-hectare land site along M-29 Caucasus highway.

The complex is scheduled to be put into commission in Q2 2010.
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Locations: Krasnodar Krai

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