DGAP-News: Sberbank: Sberbank of Russia and the United Metallurgical Company Have Concluded Agreement on Cooperation
(firmenpresse) - EquityStory.RS, LLC-News: Sberbank / Key word(s): Miscellaneous
Sberbank: Sberbank of Russia and the United Metallurgical Company Have
Concluded Agreement on Cooperation
22.06.2012 / 11:12
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Sberbank of Russia and the United Metallurgical Company Have Concluded
Agreement on Cooperation
June 21st, 2012, Saint Petersburg - Within the framework of the Saint
Petersburg International Economic Forum the Sberbank of Russia and the
United Metallurgical Company (OMK) have concluded a Cooperation Agreement.
The subject-matter of the Agreement is the development of cooperation
between the Bank and the Company, including development of relations in
respect of main banking products with subsidiaries of the Company on a
long-term and mutually beneficial basis.
The Agreement envisages financing by the Sberbank of the OMK Group's
investment project of 'The Construction of the Integrated Pipe Producing
and Steel Making Complex in the Town of Chusovoy of the Perm Territory' in
a total amount of 33.8bn rubles for up to 12 years.
The total value of the project is about 50bn rubles. It is planned within
the framework of the project to:
- Organize a modern high-tech production of steel blanks, produce
seamless pipes for oil and gas industry and workpieces for manufacture
of carriage springs.
- Create 2,500 new working places and additionally organize 2,000 working
places for the period of construction.
- Increase tax payments to budgets of all levels by more than 8 times in
the period of 2016-2026, as well as reduce polluting emissions by more
than 5 times.
To ensure performance of obligations in respect of the credit line, there
is granting of a State guarantee in the amount of 21bn rubles envisaged.
Apart from this, the signed Agreement on Cooperation envisages a
possibility of organizing the OMK Group's financing by the Bank with the
use of the capital market' instruments (including issue of ruble and forex
bonds), syndicated lending as well as rendering of investment and banking
services. The Agreement is the basis for development of cooperation between
the organizations and will make it possible to consolidate the established
partnership relations.
'The Project of constructing a modern pipe producing and steel making
complex will be of great importance for the economy of the Perm Territory.
Participation of the Bank in financing such a capital-intensive project on
a project financing basis is a good example of the Bank's strategy of
supporting the national economy's enterprises. I am eager to believe that
this project will make it possible to 'breathe a new life' into the social
and production infrastructure of one of the important metallurgical centers
in the Urals', said German Gref, President, Chairman of the Board of the
Sberbank of Russia.
'The Sberbank of Russia is our old-established strategic partner. Within
the last seven years the Sberbank issued the OMK with loans for the amount
of about 70 billion rubles. These were mainly long-term loans for
construction of new and reconstruction of existing enterprises. Signing of
a new Agreement is a logical development of our long-term cooperation.
The Project in the town of Chusovoy is one of the most large-scale projects
in the Russian metallurgy industry. Construction of the integrated pipe
producing and steel making complex under such a tight schedule will be
ensured by attracting the Sberbank's funds and granting of the Russian
Federation' s State guarantee. This is one more affirmation of the fact
that for the Sberbank, the further development of the domestic industry is
one of the prioritized lines of its activities', Anatoly Sedykh, Chairman
of the Board of Directors of the OMK CJSC, pointed out.
Sberbank of Russia
Alexander Baziyan
Public Relations Department
tel. +7(495) 957 5721
media(at)sberbank.ru
OJSC Sberbank of Russia is the largest bank in Russia, accounting for about
27% of the aggregate Russian banking assets and employing about 240,000
people. Founder and major shareholder of the OJSC Sberbank of Russia is the
Bank of Russia holding over 57.6% of the voting shares. The bank's other
shareholders comprise more than 245,000 legal entities and individuals. The
bank has the largest countrywide branch network with 17 regional head
offices and more than 19,000 outlets as well as subsidiary banks in
Kazakhstan, Ukraine and Belarus, a branch in India, and representative
offices in Germany and China. After purchase of Volksbank International in
2012 Sberbank has offices in 9 countries of Central and Eastern Europe.
The bank holds the general banking license No.1481 issued by the Bank of
Russia.
The official website is www.sberbank.ru
The United Metallurgical Company (OMK) is one of the largest domestic
producers of pipes, railway wheels and other metal products for power
generating, transportation and industrial companies. The OMK Group
comprises four large enterprises of the metallurgical industry: the
Vyksunsky Metallurgical Plant (Nizhny Novgorod region), Almetyevsk Pipe
Plant (republic of Tatarstan), Trubodetal Plant (Chelyabinsk region)?Foundry and Mill Complex (Nizhny Novgorod region).
Among the main consumers of the OMK's products are the leading Russian and
foreign companies: Gasprom, Russian Railways, LUKoil, AK Transneft,
Surgutneftegaz, Rosneft, TNK-??, ExxonMobil, Royal Dutch/Shell, General
Electric and Samsung. Products of the OMK are being exported to 20 foreign
countries.
The official site of the OMK Group is as follows: www.omk.ru
End of Corporate News
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Language: English
Company: Sberbank
19 Vavilova St.
117997 Moscow
Russia
Phone: +7-495-957-57-21
E-mail: media(at)sberbank.ru
Internet: www.sberbank.ru
ISIN: US80585Y3080, RU0009029540, RU0009029557
Listed: Foreign Exchange(s) MICEX, RTS
End of News EquityStory.RS, LLC News-Service
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175093 22.06.2012
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