OREANDA-NEWS. January 18, 2008. PSB has granted a five-year $8 million loan to Asirus Shipping Ltd., a member of the Asipac Group, as part of an international financing program, the bank's press sevice reported. These funds will be used to purchase two 2,400-ton seagoing refrigerator ships for transporting refrigerated and frozen products.

The ships were built in Japan, and will be used for carrying products from the southern part of Primorye to industrial expeditions in the Sea of Okhotsk, or to onshore processing facilities, as well for delivering frozen fish products to ports in the south of Primorye, supplying industrial expeditions, delivering fish products to foreign ports in the Far East, and delivering merchandise to Russia.

"This transaction is only the first step in the implementation of our Client's investment program. The Company and the Bank have great plans for the development of a long-term cooperation, not only in the realm of financing capital expenditure, but also for working capital loans," said Alexey Fedotkin, Vice President, Head of Corporate Banking at Promsvyazbank. "We are certain that Promsvyazbank’s cutting-edge financial solutions will be beneficial for the long-term development of Asipac Group, as well as for our other client companies involved in shipping. Considering the positive development of this industry, we expect that a large number of similar projects will be implemented in 2008."