OREANDA-NEWS. November 23, 2012. As the winning bidder at an auction held by Interregional Distribution Grid Company of Center and Volga Region JSC for a contract to provide funding to the company, Sviaz-Bank’s branch in Nizhniy Novgorod will open a nonrevolving credit line of 1 billion rubles to this interregional distribution grid company, reported the press-centre of Sviaz-Bank.     

The funding will be loaned for a period of three years to finance the company’s current business operations and investment programs.

Overall, Sviaz-Bank’s loans made to the company this year have reached 2 billion rubles.

“Sviaz-Bank and IDGС of Center and Volga Region JSC have maintained long mutually beneficial relations of partnership. We value the company as a first-class borrower and we believe that our productive relations will last into the future,” said Sergey Volokhov, Vice Chairman of Sviaz-Bank’s Management Board.

IDGС of Center and Volga Region JSC is the principal provider of services such as electric power transmission and connection of users to power networks in Vladimir, Ivanovo, Kaluga, Kirov, Nizhniy Novgorod, Ryazan, and Tula regions and in the Republic of Mari El and the Udmurtia Republic.