TransCreditBank to invest in O&G

OAO TransCreditBank is not yet ready to announce the exact sum it is willing to invest in an oil refinery based in Verkhoturye, Sverdlovsk Region.

‘The amount of money the bank is to contribute to the project will be specified later on,’ TransCreditBank’s press officer said to UrBC.

OAO TransCreditBank and the oil refinery signed a cooperation agreement which provides for the construction of an oil-processing plant and extraction and processing of hydrocarbon materials in Ural Federal District.

The parties involved estimate the total amount of investments at $2.4bn, TransCreditBank reports.

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