OREANDA-NEWS. December 23, 2009. Volga-Vyatka Bank of Russian Sberbank has opened nine credit lines of a total limit of USD 7.8 million and 4.8 million euro for the plant "Red Sormovo (Nizhny Novgorod) shipbuilder of "Sea Oil And Gas Projects Group, the Bank press release reads. The credit funds are said to be spent for financing the construction of oil tankers of "river-sea” class.

Oil tankers of "river-sea" class are designed to carry crude oil and petroleum products. These vessels meet all the requirements of existing international conventions on the protection of life at sea and ecology pollution prevention.

"Plant Red Sormovo LLC (Nizhny Novgorod), is one of the oldest Russian shipbuilder. The Plant Red Sormovo currently builds modern tankers and bulk carriers with deadweight of up to 15 tons. The company can manufacture equipment and components for offshore drilling platforms.