RIA OREANDA
Economic News
April 12, 2005 Tuesday
RUSAL Secures Loan to Finance Armenal Modernization
Moscow. OREANDA. RUSAL, one of the world’s leading aluminum
producers, has secured a 46.6 million (Euro) export loan extended by
German-based Bayerische Landesbank (BayernLB).
The loan is given with guarantees from the German export loan agency
Euler Hermes, to fund a large-scale programme to upgrade its RUSAL
Armenal foil mill in Armenia and is unprecedented in Armenian
business both in terms of the sum and the term.
It is the first such loan granted by a foreign bank to a private
company in Armenia to undertake a technical modernization programme.