NOMOS-BANK sets a 2.5 milliard Roubles credit and documentary limit for ChTPZ Group
NOMOS-BANK has set a credit and documentary limit in the amount of 2.5 milliard Roubles for ChTPZ Group — a major manufacturer of steel pipes in Russia. The funds are provided for two years. The limit will be used to finance the Group’s enterprises, as well as documentary transactions — issue of letters of credit and provision of banking guarantees. The funding is intended for replenishment of the company’s working capital.
“The pipe industry has great influence on the economy of the country ensuring the work of oil, gas, fuel, energy, machine-building and other key industries, — notes Ramil Kashapov, director of NOMOS-BANK’s fifth department for corporate clients relations. — Thus, by financing Chelyabinsk Tube Rolling Plant, we invest funds into developing a wide range of enterprises of the real sector of the economy”.
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ChTPZ Group is a major industrial group in ’s metallurgy industry. As of the end of 2009, the Group’s share in the total shipments (output) of Russian enterprises was 16.5 %. The ChTPZ Group comprises ferrous metallurgy enterprises and companies — ÎŔÎ “Chelyabinsk Tube Rolling Plant”, ÎŔÎ “Pervouralsk Tube Plant”, a company for metal scrap processing (OOO “META”), a sales division (ZAO TD “Uraltrubostal”), and oil services division (“Rimera” company). ChTPZ Group’s assets are managed by ARKLEY CAPITAL