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VTB Bank provided guarantees to CJSC Gidrostroy for the construction of roads on the island of Iturup
VTB Bank provided CJSC Gidrostroy with bank guarantees in the amount of 43,4 million rubles in order to fulfill government contracts for the construction of highways with crushed stone surfaces on Iturup Island (Kuril Islands).
The construction is financed under the Federal Target Program "Social and Economic Development of the Kuril Islands (Sakhalin Oblast) for 2007 - 2015".
The guarantees are issued within the limits of the credit and documentary operations set for the company. The limit is 700 million rubles, the validity period is 1 a year with the possibility of providing guarantees for up to 3 years.
“The Gidrostroy Group of Companies and VTB Bank have been cooperating since 2011, the company also uses the bank's conversion and deposit products,” commented Evgeny ORLOV, manager of the Khabarovsk branch. - We are planning to expand cooperation with the client in the field of documentary operations and financing.
Dossier Far Eastern Capital: Gidrostroy Group of Companies is the largest diversified holding in the Sakhalin Region. Gidrostroy carries out repair, construction and installation work at municipal and state facilities, is a contractor for the maintenance, construction and repair of roads in the Kuril region, and carries out cargo transportation on the Iturup and Shikotan islands. Gidrostroy is also the leader in the fishing industry of the Sakhalin Region (29 fishing vessels, total catch in 2013 - 231 thousand tons). The enterprises of the holding employ 3433 people.