We’ll use Bank of Moscow’s loan to pay ITERA, Uralsevergas says

‘The official reason for Uralsevergas to apply for a loan with the Bank of Moscow was the need to build up on the company’s working assets,’ says the spokesperson for Uralsevergas (ITERA O& G Company’s daughter enterprise) Oleg Vlasov.

The Bank of Moscow agreed to lend the company 400 million RUR for a term of eighteen months, the bank’s press officer reports.

‘Given the debts Uralsevergas failed to collect from Sverdlovsk Region’s consumers, the sum will probably be used to pay ITERA for the natural gas supplied. We need the loan to be able to get gas in the quantities we need and to get it without delay. This is our way of keeping natural gas supplies stable for the region,’ Oleg Vlasov notes.

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