The European Bank for Reconstruction and Development may grant 650 mln roubles credit to “New Forwarding Company”

19.08.2010 (17:43)

The European Bank for Reconstruction and Development reports that on the 16th of September the Board of Directors of the Bank will consider the possibility to grant a credit to JSC “New Forwarding Company” (that is a part of Globaltrans) in the amount of 650 mln roubles for 7 years.

The money is intended for renovation of the operator’s car fleet. The EBRD credit will give “New Forwarding Company” an opportunity to increase its share in the railways traffic market of the Russian Federation.

In June Globatrans granted a loan to International Finance Corporation (IFC, subsidiary to the World Bank Group). Globaltans drew $ 30 mln to IFC for 5 years for business development and increase in the number of railway vehicles.

Globaltrans specializes in metal, oil, cement and coal transportation. 50,1% of shares belongs to Transportation Investments Holding (in equal portions controlled by “N Trans” top managers Konstantin Nikolayev, Nikita Mishin and Andrey Filatov), 14,45% – Envesta Investments (51% – by Director General of Globaltrans Sergey Maltsev, 49% – by Head of the Board of Directors Aleksandr Yeliseyev). As of the end of 2009 Free-float comprised 35,31% of the registered capital.

The EBRD took part in Globaltrans IPO in 2008 and acquired 3,2% of shares for $49,55 mln.

www.global-port.ru