OREANDA-NEWS. November 16, 2010. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and OJSC Rosneftbunker signed a Credit Agreement on providing a credit line with a limit of 200 million US dollars.

On behalf of Vnesheconombank the Agreement was signed by Management Board Member, Vnesheconombank Deputy Chairman Anatoly Ballo, on behalf of OJSC Rosneftbunker - by its Director General Konstantin Khamlai.

Vnesheconombank’s credit resources are designed to complete the financing of the project to construct tank vessels in the sea trade port of Ust-Luga (the Leningrad region) and are made available as part of the project financing limit in the amount of 545 million US dollars.

The project’s total value would amount to about 26 billion rubles. A terminal being built under the project is to be used to transship oil products in the amount of more than 20 million tons a year.

The port of Ust-Luga where the terminal under construction is located is one of the few ports on the Russian territory capable of providing access for big deadweight vessels to export Russian highly processed oil products and removing dependence on foreign export terminals.