The FINANCIAL - VTB finances FSUE Gas-Turbine Engineering Research and Production Center Salut

VTB finances FSUE Gas-Turbine Engineering Research and Production Center Salut

21/08/2012 00:44 (274 Day 12:42 minutes ago)

The FINANCIAL -- VTB Bank granted a loan to Federal State Unitary Enterprise Gas-Turbine Engineering Research and Production Center Salut totaling RUB 2 billion. As VTB Bank reported, the company will channel the loan funds to finance its operating activities, including performance under export contracts.

Valery Lukyanenko, Member of VTB Bank Management Board, said: “The cooperation of VTB Bank and Gas-Turbine Engineering Research and Production Center Salut is consistent and long-term; it contributes to enhancing competitive position of domestic aircraft engine building and the country’s economy as a whole”.

Vladislav Masalov, the company’s CEO, also noted that “it is not the first loan provided by VTB to enable our company to realize its production plans”.

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