OREANDA-NEWS. July 04, 2012. The Bank of Moscow has opened a letter of credit limit to the amount of 3 billion RUR for the EFESk Group of companies operating in the sphere of building power generating and industrial sites.

Within the limit the Bank extends loans and credit lines to the amount of up to 2 billion RUR, the purpose being financing of work under government and commercial contracts concluded by EFESk. In addition the limit envisages bank guarantees amounting to 1 billion RUR to secure participation in auctions/tenders, performance under contracts and support guarantee periods.

The Bank of Moscow has also opened a letter of credit limit amounting to 1.1 billion RUR to one of the major infrastructure builders, OAO Mostostroy 6, working both at transport construction sites and at industrial and civil construct ion sites. Within the framework of the limit credit lines have been opened to finance current costs under contracts and to transfer earnest money to secure applications (security deposits) for participation in auctions/tenders for the right to enter into government contracts.

"The Bank of Moscow continues its cooperation with infrastructure companies and pays special attention to crediting the representatives of this segment in the Russian regions," said Maxim Kokorin, Vice President, Head of the Corporate Sales Department. "Experience gained by the Bank of Moscow in this sphere, efficient cooperation with regional companies all across the country and continuous improvement of the bank services and products give Russian companies momentum to development".

For information:

ZAO EFESk Group — a multilevel holding steadily operating in the field of large scale power generating and industrial site construction in all the climatic ands landscape zones of the Russian Federation and abroad.

The activity of the holding’s structural units forms a single production cycle which includes design institutes, metal structure factories, transport and special vehicle fleet and raw material base. The corporation has created most advanced research, scientific and production basis supporting the whole process of implementing power generation and industrial construction turn-key projects including projects implemented in accordance with the engineering, procurement, construction and project management pattern.

ОАО Mostostroy No. 6 — a major organisation in the sphere of infrastructural and industrial/civil construction with 65 years of successful experience of work in Russia and abroad.

Mostostroy No. 6 performs the whole set of work aimed at construction, reconstruction and overhaul of railway and motorway bridges, crossovers, overhead roads, hydro-technical structures, industrial and civil sites, nuclear and thermal power stations.

Today ОАО Mostostroy No. 6 has 10 branches in Saint Petersburg, Archangelsk, Velikiy Novgorod, Vologda, Kaliningrad, Petrozavodsk, Pskov, Sochi and a representation office in Moscow.