EDB Opens RUR1,5 bn Credit Line to Saranskiy Excavator Plant
OREANDA-NEWS. July 21, 2010. Eurasian Development Bank (EDB) and a Russian leading tractor producer - OAO Saranskiy excavator plant signed a 3-year RUR1.5 bn credit line agreement, reported the press-centre of KASE.
Under the agreement OAO Saranskiy excavator plant will use the funds to purchase complements from Byelorussian Minsk tractor plant to assembly loading machines, sweepers and excavators and further sale in Russia and CIS countries. A part of the credit will be used to refinance current debt of the plant before banks-creditors.
According to experts of Eurasian Development Bank, the transaction will have a substantial integration effect, facilitate cooperation between the two largest equipment producers, and will increase the volume of trade turnover between Russia and Byelorussia.