OREANDA-NEWS.  On 21 July 2008 was announced, that OGK-5 has opened a credit line facility with ABN AMRO B.V. aimed at financing the construction of the 410 MW new combined cycle gas turbine at Sredneuralskaya GRES. The financing will be provided by the means of the credit line jointly with the insurance of the export credit agency arranged by Compaснa Espaсola de Seguros de Crйdito a la Exportaciуn, S.A. (Export Credit Agency of Spain) in accordance with the policies of the export financing.

The amount of the available credit line is over 223 million euros and it is available for 30 months from the coming into force of the EPC contract for the implementation of this investment. A second credit line with ABN AMRO Bank N.V. will provide short-term bridge financing for the current financing of the working capital, capital expenditures and other expenditures related to the same project. This line has a value of approximately 100 million euros with the tenor of up to 4 months.

“This confirms the strong commitment of Enel as shareholder of OGK 5 to fulfill the investment needs of the company in particolar in the Ural region.” said Dominique Fache, Country Manager and General Director of Enel S.p.A in Russia and CIS and Chairman of the Board of Directors of OGK-5.