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Russian Post to Borrow $45M to Buy Fleet of Dedicated Planes

Russian Post is hoping to raise 3 billion rubles ($45 million) to buy a fleet of planes, the Slon news website reported Friday.

Potential investors are invited to put forward tenders of up to 2.14 billion rubles ($32.5 million)until June 23. The results of the bidding process will be announced on June 28.

Communications and Mass Media Minister Nikolai Nikiforov said that the post service airplanes will be in service by the summer.

Russian Post acquired its first plane in 2012 to deliver mail in the remote areas of the Khabarovsk Region. Later plans to expand the fleet to include between seven and 10 aircraft and five to eight helicopters by 2015 were unsuccessful.

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