• 11 September 2017 - 17:55
  • News Code: 74756
بانک صنعت و معدن

A finance agreement has been signed between Bank of Industry and Mine and VEB bank of Russia with the value of 1.2 bn euros to provide financial resources for Hormozgan's thermal power plant project.

The finance deal was sealed by the presence of Iran's Central Bank's representative and also the thermal power parent company's representatives in Moscow on 5 September.

This project will be constructed by next 5 years in which 1.2 billion euros finance is going to be injected by Russian government's loan.

Moreover, Bank of Industry and Mine as an operating bank will pave the way for further cooperations between two countries, namely Iran and Russia in particular providing financial resources.

Based on the talks, VEB bank of Russia is prepared to give one-year short term loan, long term loans without EXIAR insurance coverage and state guarantee to Bank of Industry and Mine just accordint to its credit ratings.

It is worth noting that a few months ago another finance agreement was inks between Bank of Industry and Mine and China's Exim bank with the value of 1.5 bn euros to provide finanncial resources for electrifying Tehran-Mashhah Railway

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