OREANDA-NEWS. On November 28, 2007 acting within its cooperation program with the largest enterprise in power machine building, VTB Bank has increased the documentary credit limit for OJSC Power Machines up to RUR 15 billion, reported the press-centre of VTB.

The increased limit will allow the company to tap VTB vast resources in financing its current and investment demands, as well as its export and import transactions, including those which involve foreign capital and apply the instruments accepted in the global banking practice.

The decision to increase the limit from RUR 10 bln to RUR 15 bln was primarily driven by fast dynamics of OJSC Power Machines’ stock of orders and its production program.

OJSC Power Machines and VTB are proud of their long-standing and fruitful partnership. Through offering its documentary credit products, the Bank supports the Company’s export and supply of power equipment to the Russian domestic market within investment programs implemented jointly by RAO UES of Russia and Rosatom.