VEB, Eurasian Reconstruction Bank, Nomos Bank provide credit to build Tikhvinsky Wagon

Vnesheconombank (VEB), Eurasian Reconstruction Bank and Nomos Bank have provided a credit totaling USD560 mln to build Tikhvinsky Wagon Works in the Leningrad Region. The project is being implemented by ICT.

In accordance with the credit agreement, VEB and ERB are providing USD430 mln (USD215 mln each) for the construction work and equipment. Nomos Bank is assigned as a paying agent, as well as will provide funding totaling USD130 mln to purchase imported equipment, the DARS Consulting information agency reported.