OREANDA-NEWS. Sberbank CIB issued a bank guarantee limit for KazStroyService (Kazakhstan) worth up to 30 bln Kazakh tenge (USD 200 mln) for a period of up to 5 years. The limit includes an advance payment bond and a performance bond.

In addition, SB Sberbank JSC in January 2014 signed an agreement with KazStroyService to extend the working capital line of credit to USD 90 mln.

"KazStroyService is one of the leading companies in the oil and gas service sector on the international market. We are pleased that our partnership has reached a new level. And, we are convinced that the implementation of such projects is another indicator of Sberbank's readiness to support their clients' large-scale undertakings," commented Alexandr Kamalov, Member of the Board of Directors of Sberbank's subsidiary in Kazakhstan.

"One of our priorities is to develop relationships with market leaders, which certainly includes KazStroyService. This deal is a logical continuation of many years of fruitful cooperation with the Sberbank Group," remarked Alexey Grenkov, Managing Director of International Coverage at Sberbank CIB's Investment Banking Department.