Ural Vagon Zavod, Czech Export Bank Negotiate Debt Restructuring

UrBC, Yekaterinburg, March 25, 2016. Ural Vagon Zavod Scientific & Production Corporation’s Director-General Oleg Sienko and Czech Export Bank’s Director-General Karel Bureš signed a memorandum on the restructuring of debt occasioned by the delivery of technological equipment to the corporation in 2007.

According to the company press service, the paper was signed during the Czech-Russian Intergovernmental Committee on Economic, Industrial, Scientific, and Technological Development. The loan was restructured at 2.9% a year through the year 2021.

The paper-signing ceremony was attended by Russia’s Industry & Trade Minister Denis Manturov and the Minister of Industry and Trade of the Czech Republic Jan Mládek.

The committee’s agenda has a special emphasis on large-scale joint investment projects, including those financed by Czech Export Bank. The delivery of technological equipment necessary for rolling stock production at Ural Vagon Zavod is one such project.

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