Sverdlovsk Oblast Industrialists Counting on Vnesheconombank Loans

15.04.2009 — News

THE SVERDLOVSK OBLAST.

A delegation from Vnesheconombank led by the bank's Board Chairman Vladimir Dmitriev will come to Ekaterinburg on 24 April 2009. The Sverdlovsk Oblast Government informed RusBusinessNews that bankers are going to assess the regional companies' claims for the state-provided loans within the framework of the anticrisis programme for the support of industry.

The Ekaterinburg based company OAO PSM Hydraulics is counting on the loan, the company is 630 million roubles short of being able to complete the precision iron casting project in the city of Polevskoy (the Sverdlovsk Oblast). Dmitri Yakshin, the Director General, stated that this technology does not exist in Russia yet; Russian companies buy cast parts of this precision in Ukraine. The volume of orders received exceeds the Polevskoy plant's capacity by 20%. 5,000 tons of cast parts annually will cover the needs of OAO PSM Hydraulics; OAO Russian Railways, AvtoVAZ, and large Russian machine building holdings are amongst the customers.