 |
|
||
|
|||
|
|||
|
|
||
|
|
|
|
|||||
|
||||||||
|
|
|
VTB to refinance NPO Saturn debts
RBC, 02.12.2008, Rybinsk 18:58:12.VTB will allocate RUB 10bn (approx. USD 358m) to refinance the debts of the Russian high-tech company NPO Saturn, Prime Minister Vladimir Putin said during today's meeting in Rybinsk, a city in the Yaroslavl region. Putin stressed that the move was made to support production at the company, as it played an important role in the region, industry, and the Russian economy as a whole. NPO Saturn is currently experiencing problems, the PM noted, as it has been implementing a risky financial policy and has not prepared to pay off its debt in light of the instability on financial markets. Among other moves to maintain production at the company, Putin mentioned the placement of orders, primarily by the Defense Ministry, the United Aircraft Corporation (UAC), power companies, and Gazprom. In addition, the production of nanomaterials and articles made from them jointly with the Russian Corporation of Nanotechnologies (RCNT) is also expected to contribute to NPO Saturn's development. The total amount of investment in the project has been estimated at RUB 1bn (approx. USD 35.8m), including RUB 500m (approx. USD 17.9m) worth of RCNT's investment.
|
|||||||||||||||||||||||||||||||||||
