OREANDA-NEWS. October 04, 2011. SME Bank (Vnesheconombank Group), Intrustbank and SakhaAutoGasService based in Yakutsk have financed a natural gas liquefaction facility in the Republic of Sakha (Yakutia), reported the press-centre of SME Bank.

The resources under the Bank’s Financing for Innovations and Modernization Program are provided to Intrustbank for subsequent on-lending to Yakutian small enterprise SakhaAutoGasService for purchase and commissioning of a compression unit and a gas-filling station. The total project cost is RUB 45 million.

The project was initiated by SakhaAutoGasService; since 2008 it has been involved in re-equipment of motor vehicles for natural gas fueled operation, safety examination of natural gas equipment and portable gas filling. SME Bank is providing resources for 6 years.

SME Bank Program "Financing for Innovations and Modernization" is designed for providing affordable and long-term resources to SMEs involved in innovative and modernization projects in various industries.