OREANDA-NEWS. VTB Bank has opened two credit lines for Tyumenenergo, in line with its goal of increasing cooperation with one of Russia's largest interregional electricity distribution grid companies. The Bank provided a five-year, RUB 3.5 billion loan as well as a 3.5-year, RUB 2 billion facility to Tyumenenergo for financing the utility's investment programme.

Yuri Soloviev, First Deputy President and Chairman of VTB Bank Management Board: "VTB is pleased to offer a wide range of banking products and services to energy generating companies. Tyumenenergo will use these loans to support its further development."

Tyumenenergo is one of Russia's largest interregional electricity distribution companies. It was established on 3 May 1979 and has been operating as an interregional distribution company since 2005. On 1 July 2008 it was incorporated by Russian Grids (formerly IDGC Holding).

Tyumenenergo provides electricity to customers across an area of more than 1.4 million square kilometres, including in the Tyumen Region, the Khanty-Mansiisk Autonomous Area (Yugra) and the Yamal-Nenets Autonomous Area, with an aggregate population of around 3.5 million people.