Sberbank Loans $45.5m to OAO Plastic


OAO Plastic, a Syzran-based member of Krista Group, and one of the biggest supplier of plastic parts has announced plans to open a $45.5 million (approx. €35 million) line of credit with Russia's biggest lender, state-owned Sberbank.

The loan is reportedly to be repaid by June 2, 2012, the interest rate is set at 9.5%. Under plans, the funds are to be used to purchase assets, finance expenses on repairs, research and development, modernization and others.

Plastik, OAO