Sberbank has provided a loan exceeding 10 bn rubles ($131 mn) to Vanino Commercial Sea Port to refinance the credit the port earlier took out from another bank.
According to Sberbank, leveraging the debt burden will allow the port to consider modernizing the existing and acquiring new equipment, to realize its berth maintenance plan, and continue implementing its environmental strategy.
This is the first deal between Sberbank and Vanino Port, and the bank hopes it will lead to cooperation on other projects, Vladimir Sitnov, Senior VP, Sberbank, commented.
According to SeaNews PORTSTAT online service, Vanino Commercial Sea Port handled 7.5 mn tons during 2020, down 9.6% year-on-year. 4.6 mn tons of the throughput was coal, down 9% year-on-year.