Uralvagonzavod Corporation Pays ChTZ-Uraltrac’s Loan off Early

29 October 2012 (14:34)

Uralvagonzavod Corporation started the early repayment of the 2,856m RUR worth of government guarantees that were issued to back up OOO ChTZ-Uraltrac’s loans, the corporation’s press service reports.

The guarantees helped this Corporation member get a 2,880-million-ruble loan at Sberbank of Russia (the guarantee amounted to 2,016m RUR) and a 1,200-million-ruble loan at VTB (the guarantee amounted to 840m RUR). This money was directed to the development of Chelyabinsk Tractor Plant (ChTZ-Uraltrac), one of Russia’s largest manufacturers of a wide range of caterpillar and wheeled road building vehicles.

The first early repayment to the state budget (840m RUR) was made today – through paying off the loan issued by VTB. The rest of the loans will be paid off on November 1, 2012.

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