OREANDA-NEWS. The Bank of Moscow has made a decision to establish a 700 million RUR lending ceiling to OAO Krasnoyarskkraiugol, one of the 20 biggest coal mining companies in Russia.

The borrowed funds will be aimed at financing the current activity and the activities envisaged by the borrower’s articles of association including purchase, repairs and modernisation of fixed assets and at refinancing of the company’s debts to other banks.

OAO Krasnoyarskkraiugol was founded in 1988. The company’s open-pit coal mines extract Russia’s top quality brown coals. From the time of its foundation to date coal production has been the core business of the company with the main goal being the supplies of high quality Krasnoyarsk brown coal to a maximum number of customers both in Russia and abroad.

"We make convenient and attractive offers to regional enterprises using an individual approach to each client’s business. Developing partner relations and supporting medium size businesses is one of the priorities of the Bank of Moscow," commented Eugeny Monin, Head of the Bank of Moscow’s Regional Business Development Directorate.