OREANDA-NEWS. September 09, 2010. The State Savings Bank of Ukraine OJSC (Oschadbank) will open a revolving credit line of UAH 300 million for Energorynok state enterprise (both Kyiv based).

According to a report on the web site of the Ministry of Economy, the respective credit facility agreement was signed on August 25.

The credit line is opened for the period till 20 August 2011.

As reported, on August 27 the Board of the Wholesale Electricity Market of Ukraine permitted Energorynok to raise a loan from Oschadbank to an amount of UAH 350 million for settlements by the generation companies operating thermal power plants (TPPs) for coal consumed for electricity production.

In particular, UAH 100 million of the credit amount will be allocated to Dneproenergo (Zaporozhye), UAH 70 million to Centrenergo (Kiev), UAH 50 million to Zakhidenergo (Lvov), UAH 50 million to Vostokenergo (Donetsk), and UAH 30 million to Donbassoblenergo (Gorlovka, Donetsk region).

Other UAH 50 million of the bank loan raised by Energorynok will be distributed to Centrenergo (UAH 17.6 million), Zakhidenergo (UAH 26.9 million) and Donbassenergo (UAH 5.5 million) for them to pay to Ukrainian Railways to secure uninterrupted coal shipment to TTPs.