OREANDA-NEWS.  January 19, 2012. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’and BTMU (Europe) Limited, London signed an individual credit agreement on extending 49 million US dollars for a period of 5 years to Vnesheconombank.

Under the Agreement the credit resources are to be used to fund the project on building a production facility to manufacture peeled veneer with a capacity of 300 thousand cubic meters per year in the city of Amursk of the Khabarovsk region. The project is being implemented by OJSC Dallesprom. The project’s total value is 150.2 million US dollars, with Vnesheconombank’s participation share being 97.3 million US dollars.

The construction of this production facility is the first stage of the project to create a Far Eastern Timber Deep Processing Center.

The Bank of Tokyo-Mitsubishi UFJ, Ltd. (hereinafter referred to as BTMU) is Japan’s leading bank set up in 2006 as a result of merging the Bank of Tokyo-Mitsubishi and UFJ Bank. In terms of assets amount the bank ranks first in Japan and is among the world’s ten largest banks. International rating agencies assigned the bank ratings of “A”. BTMU’s branch network is comprised of more than 800 subdivisions including its representative office and subsidiary bank in Moscow as well as its subsidiary institution in Great Britain – BTMU (Europe) Limited.