Date: 3 months ago   Category: Corporate finance

Sberbank will provide 400 million dollars for coal mining on Kamchatka


The Indian company Tata Power — affiliated structure of versatile corporation Tata Group — and Sberbank of Russia on Thursday, March 16, have signed the agreement on project financing of development of the coal field on Kamchatka, TASS reports. The framework agreement on implementation of this investment project and also a package of the accompanying agreements have been signed in the presence of the Deputy Prime Minister of the Russian Federation, the president's Plenipotentiary Representative in the Far East Yury Trutnev. From the Russian side documents were signed by the governor of Kamchatka Krai Vladimir Ilyukhin, the Deputy Minister for the Development of the Russian Far East Alexander Krutikov, the agency head of the Far East on attraction of investments and support of export Leonid Petukhov, the head Fonda of development of the Far East Alexey Chekunkov and the vice-chairman of the Far East bank PJSC Sberbank of Russia Marina Perebeynus. "The sum final isn't determined, the business model isn't constructed yet, but approximately it can be about 400 million dollars. Financing will begin since 2018" — Perebeynus has noted. According to her, it is about crediting for a period of 10 years so far, but if desired terms can be increased up to 15 years. The Indian corporation Tata Group founded in 1868 is engaged in production of cars, it, in particular, since 2007 the brand of Daimler and also means of communication and production for defense industry, including new Indian ZRK Akash belongs.

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