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Mechel, the country's largest coking coal producer, received a 15 billion ruble loan from state-run VTB, the company said Thursday.
"VTB has opened credit lines for Mechel's Yakitugol, Yuzhny Kuzbass and Chelyabinsk Metallurgical Plant for one year," the company said.
The money received will be used for financing operational activities, the company said.
VTB, the country's second-largest state-owned lender, gave out over 30 billion rubles in loans to enterprises in the Chelyabinsk region, the Magnitogorsk Iron & Steel Works (MMK) plant's corporate newspaper said on its web site Thursday.
In addition to Mechel, the newspaper named the Chelyabinsk Tube Rolling Plant as a loan recipient.
Officials at VTB could not be reached for comment in time for this story. Calls to the press offices of MMK and the Chelyabinsk Tube Rolling Plant were not returned.
Mechel Gets 15Bln Rubles From VTB
05 December 2008
The Moscow Times
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