VNESHTORGBANK TO MAKE OVER 400-MILLION-DOLLAR TRANSACTIONS WITH NORILSK NICKEL

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MOSCOW, September 2 (RIA Novosti) - Vneshtorgbank has taken the decision to conclude a total of over 400-million-dollar transactions with OAO Norilsk Nickel Mining and Smelting Combine, says the bank's press service in a communique received by RIA Novosti on Thursday.

Among them is a wide range of credit and documentary operations with the combine and some of its subsidiaries. Particularly, Vneshtorgbank plans active use to be made of its capability in arranging financing of the company's foreign trade operations, the press release says.

In the first half of 2004, Vneshtorgbank gave 40 million dollars of credits to Norilsk Nickel.

Deputy president-chairman of the board of Vneshtorgbank Igor Zavyalov, whose words are quoted in the press release, says that, minding the investment potential of the entire metallurgy sector in the bank, the 2004-2006 program for developing client business with ferrous and non-ferrous metallurgy enterprises has been adopted.

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