OREANDA-NEWS. April 30, 2010. The Bank of Moscow has granted a bank guarantee in the interests of Tulachermet company (belonging to the Industrial Metal-working Holding (PMKh)) in favour of the Federal tax Service of Russia to a sum of 615.86 million roubles. The guarantee was issued in accordance with article 176.1 of the Tax Code of the Russian Federation for the purpose of reimbursement of Tulachermet company by declarative procedure of value added tax on its tax declaration for the 1st quarter of 2010.

The Bank of Moscow has been co-operating with enterprises of the Industrial Metal-working Holding (PMKh) since 1999. The Bank is currently a strategic partner of PMKh, financing current production and investment activities, servicing export-import operations, providing guarantees, rendering settlement and cash services and salary projects. The total credit funds extended by the Bank of Moscow to PMKh enterprises over the last 3 years, including redeemed sums, has amounted to about 50 billion roubles, and that of certified instruments – over 2.2 billion roubles.