OREANDA-NEWS. March 18, 2009. Kaliningrad branch of the Bank of Moscow has extended a credit amounting to over RUR237 million to Regionalnaya Energeticheskaya Kompaniya

Kaliningrad branch of the Bank of Moscow has extended a credit amounting to over RUR237 million to Regionalnaya Energeticheskaya Kompaniya (Regional Energy Company), a regional state unitary enterprise, for the financing of power networks to be developed in Kaliningrad region.

Tatyana Krasyuk, director of Kaliningrad branch, commented: "Kaliningrad branch of the Bank of Moscow proceeds successfully with the financial support of the construction of power substations, power distribution networks and high-voltage transmission lines, within the framework of the credit line opened in Autumn 2008 and amounting to RUR1.5 billion".

The above resources will be used for the construction of 4 electric power plants, power distribution networks and high-voltage transmission lines and will be secured by Kaliningrad Administration.

Rodniki 110/15 kW high-voltage transformer substation is at the stage of commissioning and start-up. The total cost of construction of Rodniki site is estimated to reach RUR165 million. Sovetsk-2 110/6 kW high-voltage transformer substation is also under construction. The commissioning of Sovetsk-2 substation is scheduled to take place in April 2009. The total cost of construction of Sovetsk site is estimated to amount to RUR177 million.