VEB signs Khabarovsk refinery project loan

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03 September 2010

VEB has signed a project financing, backed by Spanish export credit agency CESCE, to modernise the Khabarovsk Oil Refinery located in the Russian Far East.

Russian state bank Vnesheconombank (VEB) has signed a $760 million project financing for Alliance Oil subsidiary Khabarovsk Oil Refinery.

The financing will support Khabarovsk Refinery's extensive reconstruction and modernisation programme which is estimated to have a total project cost of $1.3 billion.

The deal is split between three tranches...

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