The purpose of the loan is said to increase working capital, acquisition of movable and immovable property, intangible assets, current arrears on the loan in OAO Baltinvestbank. The Board of Directors of the Forest Terminal "Factor" (Leningrad region, Kingisepp district, village Krakole) held its December 25 meeting. The BD has reportedly approved a additional agreement to the July 1st, 2008 contract on the opening of non-revolving credit line. This accounts the additional agreement N1 of March 20, 2009 between OAO "Forest Terminal "Factor" and the Savings Bank of Russia (JSC). An additional agreement is to be signed on terms that the credit line limit will be at 83.050 million rubles, the company authorities say.
Interest rate from 1 July 2008 to 28 December 2009 is at 13,5% per annum, from December 29, 2009 to June 20, 2011 - 19% per annum.
JSC "Forest terminal" Factor "(Leningrad region) specializes largely in transshipment of timber cargo at the port of Ust-Luga. According to earlier reports, the terminal authorities expect growth in transshipment of wood and general cargo from 250 tons to 2.5 million tons by 2015.
Interest rate from 1 July 2008 to 28 December 2009 is at 13,5% per annum, from December 29, 2009 to June 20, 2011 - 19% per annum.
JSC "Forest terminal" Factor "(Leningrad region) specializes largely in transshipment of timber cargo at the port of Ust-Luga. According to earlier reports, the terminal authorities expect growth in transshipment of wood and general cargo from 250 tons to 2.5 million tons by 2015.