Representatives of SIBUR and Vnesheconombank participated in the award ceremony Project Finance Europe and Africa Deals of the Year 2010 («Best project financing deals in Europe and Africa – 2010»). They were announced as the winners in the category «Best Petrochemical Deal of the Year».
In July 2010, Vnesheconombank granted the SIBUR subsidiary «Tobolsk-Polymer» long-term credit totalling USD 1.441 bln for a project to build a polypropylene production complex in Tobolsk with an output capacity of 500 thsd tonnes per annum. According to the loan agreement, a total of USD 1.22 bln was provided for a period of 13.5 years under a guarantee from export insurance agencies from European countries, from which SIBUR is purchasing the equipment for its new facilities. The remaining funds, in the amount of USD 221 mln, were provided in the form of a credit line for nine years.
The Project Finance Magazine is the world's leading publication in the field of project financing and is part of the Euromoney media group. Since 1999, the editorial board, with the involvement of experts, annually present awards with respect to innovation, standardisation, and overcoming challenges, risk mitigation, and speed in arranging funding for infrastructure projects.
