Source Pravda.Ru

Sberbank to provide credits for Magnitogorsk Metal Plant

Sberbank of Russia is ready to provide credits of up to $200 million for the term of five years to the Magnitogorsk Metal Plant, President and Chairman of the Executive Board of Sberbank Andrey Kazmin told journalists while visiting the plant. As of now Sberbank has provided credits to the total amount of over RUR3 billion (around $95.23 million) to the Magnitogorsk Metal Plant. In particular, $56 million were provided for the construction of the uninterrupted hot sherardizing facility and another $46 million - for a number of other investment projects. These credits were provided for the term of not more than three years.

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&to=http://www.sbrf.ru/eng/' target=_blank>SBERBANK

&to=http://www.mmk.ru/english/indexe.html' target=_blank>Magnitogorsk Metal Plant