OREANDA-NEWS. February 16, 2012. Sviaz-Bank’s branch in Novosibirsk, Siberia, has been named winner in a public auction for a contract to make a loan to ELSIB Research and Production Association (RPA), OJSC. The Bank is to open a credit line with a debt limit of 250 million rubles to the company for a drawdown period of two years for the borrower to increase its working capital, reported the press-centre of Sviaz-Bank.

This is a second credit line to be opened by the Bank to ELSIB RPA, OJSC. Together with the loan the company received last October, the total amount of borrowing provided to ELSIB RPA by Sviaz-Bank is to run up to 400 million rubles.

ELSIB Research and Production Association is a leading manufacturer in the heavy power engineering industry. The company designs and makes hydroelectric power generators, turbogenerators, and synchronous and asynchronous electric motors for use in the petrochemical, coal, and ore mining industries. ELSIB’s machinery is used at 700 electric power plants around the world. The company is stepping up output, replacing its dated equipments, and venturing into new markets.