05 May 2004 08:51
EBRD LOANS HEMOFARM 22 MLN EUROS FOR OBNINSK PLANT
MOSCOW. May 5 (Interfax) - The European Bank for Reconstruction and Development allocated a 22 million euro loan for
Serbia's Hemofarm for the construction of a pharmaceuticals plant in Obninsk, Russia's Kaluga region, the EBRD
said.
EBRD is to provide half the loan as syndicated loans from commercial banks. This will be the EBRD's second loan
to Hemofarm. The first of 18 million euros was disbursed in April 2002 for expansion and new equipment.
The Obninsk plant will cost 24.9 million euros. About half of Hemofarm's export revenue is generated in Russia,
the EBRD said. By providing a local presence on the Russian pharmaceuticals market, Hemofarm plans to further promote
its brand in Russia, the EBRD said.
[Interfax] |
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