Russia's Sberbank to Open Credit Line to Russian Aluminium to Build Can Plant in Leningrad Region

The Savings Bank of Russia, called Sberbank for short, will open a USD 70 million credit line for a term of 5 years for the Russian Aluminium group to build an plant to produce aluminum cans in the town of Vsevolozhsk, the Leningrad Region. Russian Aluminum is already actively using the long-term loans previously issued to it by Sberbank.

The rated annual capacity of the new plant will amount to 1.7 billion 0.5 litre aluminum cans and 1.5 billion lids. Agreements for the supply of the principal equipment have been signed with the leading German and American manufacturers. Aluminum foil bands for cans will be produced by the Samara metallurgical Plant and partially imported. The consumers will include leading breweries in the north-western and central parts of Russia.

The joint stock Savings Bank of Russia was chartered on June 20, 1991. Its founder and principal stockholder (over 60%) is the Central Bank of the Russian Federation. Other stockholders include over 230,000 companies and individuals.

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