OREANDA-NEWS. February 15, 2012. Sviaz-Bank’s branch in Blagoveshchensk, Far East, has been named winner of a public auction held to select a financial institution to be awarded contracts for financial services to provide funds to Far Eastern Distribution Network Company, OJSC, to meet the company’s needs, reported the press-centre of Sviaz-Bank.

Sviaz-Bank is to provide FEDNC OJSC with an overdraft of 250 million rubles to be used for 12months. The company will use the borrowings to invest in its financial and economic operations.

The Far Eastern Distribution Network Company, OJSC, operates as part of the Eastern Integrated Power System. It transmits electric power in the distribution networks for Amur Region, Khabarovsk Territory, the Jewish Autonomous Region, Primorye Territory, and the Southern District of the Republic of Sakha (Yakutia).