OREANDA-NEWS. November 03, 2011. The Kaliningrad Branch of the Bank of Moscow has opened a 5-year credit facility with a limit of 580 million rubles for Open joint stock company Regional Energy Company.

The credit funds are being extended to the borrower for redeeming existing debt obligations and for financing investment and current business of the enterprise. Security for the given loan consists in a state guarantee of the Kaliningrad Region.

For information:

Open joint stock company Regional Energy Company was founded in 2009 as the legal successor to OGUP Regional Energy Company. The sole founder of Open joint stock company REC is the Kaliningrad Region, represented by the Property Agency of the Kaliningrad Region. The main task of the enterprise is to build and operate electricity grid facilities of the Kaliningrad Region and ensure energy savings by consumers of the Kaliningrad Region.