EBRD PLANS LOAN FOR RUSSIAN PIPE FINISHING CENTRE
November 1st, 2006
BY KEITH NUTHALL
THE EUROPEAN Bank for Reconstruction & Development (EBRD) has released plans to lend US$193 million to Russia's ChTPZ Group to build a finishing centre for steel seamless pipes used in the oil and gas sectors. The new plant is to be located at Pervouralsk, in the Sverdlovsk region, near the southern Urals. US$149 million of the loan will be syndicated through commercial banks and US$44 million will come from EBRD accounts. An EBRD note said the development - total cost estimate - US$203 million, will enable the company "to enter a ...
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