OREANDA-NEWS. On July 18, 2007  “Sberbank of Russia” Increased individual risk limit for extension of loan products to the enterprises of “Concern Tractor plants” from 4654,6 mln. rubles to 10498,6 mln. rubles, reported the press-centre of KTZ.

Decision about this has been accepted on 15 of July by the committee of credit and investment arrangement of “Sberbank Russia”.

The increase of the limit more than twice will allow to the Concern to get additional sources of financing of its projects, and, in particular for the project of construction of new carriage works in Kanash.

According to General director of the Company of Corporative Governance “Concern Tractor plants” Simeon Mlodic, the “decision of “Sberbank” about increase of credit volumes - the next practical confirmation of high potential of “CTZ” enterprises, and also recognition of achieved financial and economic stability”.

Company of Corporative Governance “Concern Tractor plants” consolidates 9 engineering enterprises.

The total annual production in 2006 was apprx. 1 bln. Dollars. To 2012 it is planned to achieve 2,6 bln. doll.

CTZ cooperates with “Sberbank” from 2000. During this period phased transition to complex service has been made (salary projects, corporative financing of employees, commercial financing). In April 2007 parts signed an agreement about implementation of corporative treasury system.