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Gazprombank Opened a Credit Line for the Far-East Plant “Zvezda” for RUR 930 mln. for the Term of 2 Years

February 08, 2010

A credit line for RUR 930 mln. for the term of 2 years was opened by Gazprombank, OJSC, for the Far-East Plant “Zvezda”, OJSC (closed administrative territorial unit Bolshoy Kamen, the Primorie Territory). The report of the bank states that the funds received within the framework of the credit line are to cover costs for state contract execution.

On the base of OJSC Zvezda, the largest shipbuilding yard of the Far East is being erected which is designated for construction of vessels of up to 300 thousand tons displacement. The Russian government intends to invest about USD 1 bln. into construction of the yard. The yard is intended for construction such heavy-tonnage vessels as LNG carriers, tankers, floating LNG plants, exploration vessels and so on. These vessels will be used for servicing the Russian oil and gas industry and Russian export. The ceremony of laying of the foundation stone of the yard was held in November, 2009, in the Primorie Territory. 88.7% of shares are hold by the Far East Center of Shipbuilding and Ship-Repair, OJSC.

Source: PortNews

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