The INTERNATIONAL INDUSTRIAL BANK (MEJPROMBANK; Moscow) has finalized a deal for a three-year $97 million loan for SEVERNOYE MASHINOSTROITELNOYE PREDPRIYATIE (SMP), reported the bank’s press service. The loan will finance a contract concluded by the SMP with the Norwegian ODFIJELL ASA in November 2004 to build four chemicals carrying tankers. One tanker costs approximately $38m and takes three and a half years to build. The Oslo-based EXPORTFINANCE bank will extend the loan under a Norwegian Export Credit Agency program against MPB guarantees.
Source: WWW.NOVECON.RU, July 12, 2006
