OREANDA-NEWS. June 03, 2011. Sviaz-Bank and Yurga Engineering Plant LLC entered into an agreement on a nonrevolving credit line of 2 billion rubles to be issued to the company for a drawdown period of 36 months, reported the press-centre of Sviaz-Bank.     

The company will use the borrowed funds to develop its core fixed assets.

“The Yurga Engineering Plant is the biggest manufacturer of engineering products in Kemerovo Region and West Siberia today. Its products are always in demand in and beyond Russia,” said Sergey Volokhov, Vice Chairman of Sviaz-Bank’s Management Board. “We are confident that more funding by the Bank will enable the company to step up it production rates and expand its output of commercial products, and also to make its products more competitive and boost its profit. We have a stake in long-term cooperation with the company.”

Yurga Engineering Plant LLC is a turnaround engineering business operating on a site taken up by many different specialized manufacturing facilities, including shops producing mining equipment, lifting machinery and specialized equipment, a smelting shop, a power plant, and many more.