EDB to start en­ergy project in Rus­sia

The Pak Banker - - COMPANIES/BOSS -

The Eurasian Devel­op­ment Bank (EDB) and Khib­in­skaya Te­plo­vaya Kom­paniya OJSC (KHTK OJSC) signed to­day a loan agree­ment that pro­vides for the Bank's fi­nanc­ing of heat­ing main con­struc­tion in Mur­mansk oblast to con­nect the cities of Apatity and Kirovsk.

Un­der the agree­ment, the EDB is to open KHTK OJSC a non-re­volv­ing credit line of RUR 2 bil­lion for 6 years. The project in­volves con­struc­tion of 14 km of heat­ing main from Apatity CHP TGK-1 OJSC to the cen­tral heat distri­bu­tion sta­tion of the city of Kirovsk, Mur­mansk oblast, to trans­port heat­ing en­ergy to fi­nal con­sumers. Apatit OJSC-a ma­jor min­ing and chem­i­cal com­plex, part of PhosA­gro Group en­gaged in phos­phate min­ing and pro­cess­ing-is lo­cated in that city. This en­ter­prise is the back­bone one for the one-com­pany city of Kirovsk.

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