OREANDA-NEWS. May 13, 2011. The Russian Bank for Development and CB IntrustBank have launched the innovative project "Organization of production of innovative antirust materials" in Nizhny Novgorod. The project is supported within the framework of RBD’s "Financing for Innovations and Modernization" Program, reported the press-centre of RBD.

The Bank has provided to CB IntrustBank 150 million rubles for on-lending to the project initiator - Geotex Ltd. The latter intends to organize serial production of bitumen-polymeric mastic and primer.

The total project cost will reach 177 million rubles, thereof 150 million rubles are lent by RBD and 27 million rubles - are Geotex’s own funds.

The loan is earmarked for construction of innovative antirust materials production plant.