Date: 6 months ago   Category: Winter

VTB is interested in financing of large projects in India


The president-chairman of the board of VTB Andrey Kostin during the visit to India has told CNBC TV channel about readiness of bank to invest money in large projects in this country, having referred to "quite good experience of financing of the Indian companies". The interest of VTB extends, according to the banker, to such areas as steel industry, power, construction of ports, production of fertilizers on the basis of petrochemical products. The top manager in an interview to TV channel has paid attention that such Russian companies as the Russian Railway, are very interested in getting on the Indian market, and has declared determination of bank to assist in implementation of important infrastructure projects. "As investment bank we render consulting services in the international transactions and transactions in India. The Indian economy promptly grows, and we, of course, don't want to miss this opportunity" — Kostin has emphasized. The financier has reminded of participation of VTB in the conclusion of the transaction between Rosneft and the Essar oil company. "We consider that Essar Steel is very good company. It is one of the leading producers of steel in India, and India needs steel against the background of rapid growth — Kostin has commented on difficulties which this company had met. — I think that certain mistakes have been made, there is very big debt, but it is all the same healthy and good company. I think what is good if these problems are solved — the earlier, the better for the company. In it there is also the main interest, as as I have told, in general the company is in good shape, despite some problems connected with management efficiency and too high duty. But I am sure that if the question is resolved, then this company will become the leading producer of steel in India, and it is possible, and around the world". Concerning creation of the joint mechanism for mutual payments in rubles and rupees between two countries Andrey Kostin has noted that the central banks of Russia and India quite not bad interact and give each other support. "We, of course, don't say about absolutely to refuse dollar — the head of VTB has emphasized. — It is nonsense. The dollar, euro, other currencies will be used. But we have to develop the mechanism of implementation of payments in national currency and perform a part of operations in national currency, and as to me sees, both of our countries support this initiative. I think if we actively work in this direction now, then in the next several years we will manage to achieve good results".

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