The State Corporation Bank for Development and Foreign Economic Activity (Vnesheconombank) and Energy and Gas Company ENECO, LLC, an ITERA group company, made a ten-year long loan agreement worth Rub 4.77 billion on March 23 in Ekaterinburg.
Anatoly Ballo, Member of the Management Board and Deputy Chairman of Vnesheconombank and Alexei Fedoseyev, General Director of EC ENECO, LLC, signed the document.
The funds are intended to finance the investment project: Development of power generation for housing and public utilities complexes in municipalities in the Sverdlovsk Region. The Project is being implemented based on the principles of partnership between the state and private businesses. The prime objective of the Project is to enhance reliability of energy supply provision and to improve quality of energy-saving services in municipalities.
The document envisions the EC ENECO, LLC involvement in the capital investment program on construction of heat supply facilities: 233 heating boiler houses, 14 facilities for combined production of heat and electricity, implementation of 283 computer-aided systems for commercial record keeping of energy resources in the territory of the Region.
The Agreement was a follow-up to the Memorandum on Cooperation in Implementation of Energy-related Projects in the Sverdlovsk Region, signed by Vnesheconombank, the Government of the Sverdlovsk Region, ITERA Oil and Gas Company, LLC, and EC ENECO, LLC, in December of 2007.
23/03/2009
Press Service,
ITERA Oil and Gas Company
Tel.: (495) 411-8631 |
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