06:49 GMT +324 September 2018
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    VTB to obtain $175 mln from banks for airport construction

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    MOSCOW, October 16 (RIA Novosti) - Russia's state-run foreign trade bank VTB said Tuesday it had signed an agreement with Japanese banks on a $175 mln loan to finance the construction of a new international airport terminal in Moscow.

    The loan, to be granted for twelve years by Sumitomo Mitsui Banking Corporation (SMBC) and Japan Bank for International Cooperation (JBIC), will be used to finance the construction and commissioning of a third terminal at Sheremetyevo Airport, VTB said.

    The loan will be granted under a program for financing large infrastructure projects that do not include the supply of Japanese equipment and services, VTB said.

    VTB holds a stake of 25% plus one share in the Terminal company, set up for the construction of Sheremetyevo-3, which is expected to be put into operation by the end of the year.

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