OREANDA-NEWS. On 22 May 2009 was announced, that Baikalwestcom CJSC, a 100% affiliated company of Sibirtelecom OJSC had obtained the first tranche to the amount of USD 4.3 mln from Irkutsk VTB bank branch within the bounds of Individual Loan Agreement signed between VTB Bank and Eximbank of China to the amount exceeding USD 18.5 mln in October 2008 in Moscow. The next tranche is planned for April of the current year in conformity with the contract conditions.

The said loan is directed for financing of the commercial contract concluded between Baikalwestcom CJSC and Highway Company (China) for buying telecommunications facilities. Baikalwestcom CJSC is the biggest mobile communication operator in Eastern Siberia (the company occupies more than 55% of the regional communication market); one hundred per cent of the company shares are in the possession of Sibirtelecom OJSC. Baikalwestcom net coverage includes more than 600 settlements of Irkutsk region with the number of subscribers of 2 mln. people.