OREANDA-NEWS. The Bogorodsky Techno-Chemical Plant has completed an investment project under which it introduced automated systems to control electric energy use and energy-conservative units for production lines where synthetic crystals are cultivated. Bank Electronika has financed the project with funds it attracted from Bayerische Hypo- und Vereinsbank AG (Munich).

Under the investment program financed by Bank Electronika in 2006, the Bogorodsky plant, a leader in the synthesis and cultivation of manufactured crystals, obtained 2.975 billion dollars to purchase state-of-the-art equipment. Bayerische Hypo- und Vereinsbank AG provided the loan for a term exceeding six years with credit guarantees from German export credit agency Euler Hermes Kreditversicherungs-AG.

Thanks to the investment project, the plant has been able to achieve savings of around 2.5 million rubles per month. Repayment of the borrowed funds is consistent with terms of the loan agreement.