OREANDA-NEWS. October 26, 2007. VolgaTelecom selects a credit institution for concluding the contract of establishing revolving credit line of RUR 500 million Nizhny Novgorod, October 2007. OJSC VolgaTelecom invites open tender for selecting a credit institution to conclude the contract of establishing revolving credit line.

The subject matter of contract by and between OJSC VolgaTelecom and the credit institution will be the conclusion of contract of establishing revolving credit line of the credit ceiling of RUR 500 million for the period of 18 months to increase VolgaTelecom's working capital and non-current assets.

Credit institutions (irrespective of incorporation form, form of ownership, location and place of origin of capital) are invited to the tender to render financial services of concluding the contract of credit extension.

The bids for the open tender are accepted before November 22, 2007 and will be examined by the tender committee on November 28, 2007. The tender's results will be summarized on November 30, 2007.

The bids are to be sent to: General directorate, OJSC VolgaTelecom, Dom Svyazi, M.Gorky square, Nizhny Novgorod city, 603000.

More detailed information about the tender’s terms, tender’s documentation, specimens of forms and documents to be filled in for participation in the tender is available at: http://www.vt.ru/id=9235.

VolgaTelecom has been holding open tenders for selecting partners to render services and to perform works since the beginning of 2007 following the regulations of Federal law № 135-ФЗ “On protection of competition” and Federal law № 94-ФЗ “On placement of orders for the supply of commodities, performance of works and rendering of services for government and municipal needs”.