OREANDA-NEWS. October 07, 2011. SME Bank (Vnesheconombank Group), Maritime Bank and a private entrepreneur M.G.Loktev (St.Petersburg) are implementing an innovative project of modernization of outdated vessels, reported the press-centre of SME Bank.

Loktev’s enterprise has attracted resources under SME Bank Program “Financing for Innovations and Modernization” via Maritime Bank in the amount of RUB 85 million with a 5-years maturity. The total project costs RUB 107 million. It contemplates building of dump scows of a new generation which will enable to increase efficiency of dredge operations. In future new vessels will operate in the Baltic, Caspian, Azov and Black Seas as well as in inland waterways.

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.