Pervouralsky Novotrubny Zavod Will Get 13 Billion Roubles Loan From Sberbank
25.02.2010 — News
THE SVERDLOVSK OBLAST.
OJSC "Pervouralsky Novotrubny Zavod", a ChTPZ Group member, will receive a loan of 13.294 billion roubles from Sberbank. JSC Chelyabinsk Tube-Rolling Plant, also a member of ChTPZ Group will act as a guarantor for this non-renewable credit facility.
The press service of ChTPZ Group informed RusBusinessNews that 8 billion roubles will be used for the completion of the construction of the electric furnace facility at PNTZ. About 2 billion is earmarked for the restructuring of loans the enterprise previously took out in foreign banks.
The construction of the new facility with the annual capacity of 950 thousand tons of cast steel parts began in 2007. The estimated cost of the project is 19.2 billion roubles. This will provide enough high quality casts for the production of seamless pipes at the Chelyabinsk Tube-Rolling Plant and Pervouralsky Novotrubny Zavod. The start up of the electric furnace steel facility is scheduled for the fourth quarter of 2010.
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