EDB to start energy project in Russia
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.