VTB and Astafiev Terminal signed an important loan agreement in Vladivostok

5.03.2021

The Bank has increased the Company’s credit limit to 3.6 billion Rubles; finance will be used to complete the construction of a protected handling complex  

The signing of a loan agreement between VTB Bank and Astafiev Terminal JSC to increase the funding for the project for the switching to environmentally friendly technologies of bulk handling took place on Wednesday, March 3, in Vladivostok. On behalf of Astafiev Terminal JSC, the agreement was signed by Andrey Granatov, Chairman of the Board of Directors of Astafiev Terminal JSC, and on behalf of VTB Bank by Ruslan Eremenko, Head of the Regional Corporate Business Department, VTB Bank Senior Vice President, as reported by PrimaMedia IA.

– Since March, we have increased the credit limit for Astafiev Terminal JSC from 2.2 billion Rubles to 3.6 billion Rubles. Finance will be allotted to the completion of the construction of a covered bulk handling complex in Nakhodka, Ruslan Eremenko said. – We are expanding our partnership under the cooperation agreement signed at the Eastern Economic Forum in 2018. The construction of a covered bulk cargo terminal is already being implemented in real life, and this gives great satisfaction: financing the investment project of Astafiev Terminal JSC contributes to a breakthrough in the development of the domestic sphere of bulk handling technologies, and it is extremely important for the social and environmental spheres of Primorsky Region.

Senior Vice President of VTB Bank especially emphasized that the Astafiev Terminal’s project was not affected by the difficult economic situation last year. The enterprise has gone through many trials and observes all project deadlines.  

– I am sure that with the financial participation of VTB, our long-term partner will successfully complete the final stage of the project on schedule. VTB supports many infrastructure projects in the leading sectors of the country’s economy. “Investment financing allows regional companies to implement long-term plans to modernize their business, to reach a new high-quality level of development,” said Ruslan Eremenko.

In response, Andrey Granatov, Chairman of the Board of Directors of Astafiev Terminal JSC, thanked VTB for joint work and cooperation.

— I know that VTB Bank pays great attention to companies that are leaders in their industries and contribute to the development of industry in the region and the country. From signing an agreement with the bank at the Eastern Economic Forum in 2018 and up to the present time, Astafiev Terminal has been consistently implementing the international investment project as a part of the instruction of the Russian President concerning the switching to environmentally friendly technologies of bulk cargo handling. This large-scale project will be the first in the ports of the Far East. And VTB Bank allows us to arrange the continuous implementation of all stages of the project and to be one of the leaders among the ports in Nakhodka, Ruslan Kondratov, General Director of Astafiev Terminal JSC, commented on the signing of the loan agreement. 

At present, Astafiev Terminal is implementing the fourth stage of the terminal modernization program: the construction of a completely closed shed over the railway discharging area. The completion of the stage is scheduled for the summer 2021.

The unique structures of capitals and shed supports have already been completed; the assembly of metal structures of the shed over the railway discharging area, custom-made by the Spanish company Gaptek, the world leader in the production of large structures, has been commenced. Other recognized industry leaders, Marubeni Corporation and Schade Lagertechnik, are also partners in the project.

In January 2021, the project was highly appreciated by the all-Russian Public Organization “Green Patrol”. As a result, the company and the organization signed the Green Declaration which provides access for independent experts to the port’s production site, and assistance in conducting expert assessments of the results of the program for the switching to a protected type of handling.