OREANDA-NEWS. December 6, 2010. OJSC Gazprombank has provided bank guarantees to OJSC Mostotrest worth 18.2 billion roubles following the Company’s recent contract win. The project will see the construction of a highway in Sochi: “Secondary road along Kurortnyi avenue between 172nd kilometer of the M-27 “Dzhubga-Sochi” highway and the PK0 Sochi bypass (Agura river), including reconstruction of a section of the road between Zemlyanichnaya Street and Kurortnyi avenue, Sochi, Krasnodarsky kray”. The second section will include construction works from Zemlyanichnaya Street to the Sochi River, with the third section covering construction works from the Sochi River to the Psahe River.

The state contract was awarded as part of the federal works in preparation for the Sochi-2014 Olympic Games.

Earlier Gazprombank increased Mostotrest’s current credit limit to 25 billion roubles for a period of 48 months. Borrowed funds are intended to finance bank guarantees and the ongoing activities of the Company.