OJSC “Kreditprombank” opened credit line for OJSC “Alchevsk Metallurgical Combine” (AMC) for realization of combine technical reequipment project, particularly financing of contracts for purchase of equipment from Germany with APC Power Conversion GmbH и Maschinenfabrik Herkules GmbH for total amount of 15.000.000 dollars.

In the frameworks of project AMC is going to reconstruct plate mill 2800 that will allow the company to master manufacture of plate from slabs, organize production of plates for ships and gas and oil line pipes on controlled rolling technology (particularly, plate (strip) mark Х70), as well as increase quality of production. Reconstruction of plate mill is performed without interruption of the main production. Funding bank is Bankgesellschaft Berlin AG (Germany), which also organized insurance coverage or German insurance company “Hermes”.

Using financial instrument, Ukrainian importer receives number of advantages, among them: decrease of financial resources value, as well as increase of the term of financing to 8 years. Besides, special decisions worked out by the specialists of OJSC “Kreditprombank” and Bankgesellschaft Berlin AG, allow refinancing of already incurred costs on foreign economical contracts with foreign investors.


Note.
OJSC “Alchevskiy Metallugical Combine”, which is the member of “Industrial Union of Donbass” group, delivers its production on external market into more than 30 countries of the world. Special demand on external market has plate mill and cast iron. Alchevsk steel is widely used in shipbuilding, atomic and chemical engineering, for production of gas pipe lines, locomotives, tractors, mine working supports etc. Production of Alchevsk combine is constantly exhibited on international fairs and exhibitions in Germany, China, England and other countries.

OJSC “Kreditpromabnk” has been working on international capital markets for several years already, that allows the bank to provide Ukrainian clients competitive financing with such advantages as: comparatively long terms (up to 8 years) and low value of borrowings, entrance of enterprises on international markets. Today bank’s total limit of financing by means of using coverage of national export agencies of Europe, Asia and USA reaches USD 50 million. As at 01.05.06 structural and project financing portfolio of Kreditprombank exceeded USD 100 million.