As Transneft's only shareholder, the Federal Agency for the Management of Federal Property resolved at a special meeting yesterday to add another RUB 63.811bn (approx. USD 2.45bn) to the loan for the construction of the Eastern Siberia - Pacific Ocean (ESPO) pipeline sought by Transneft's subsidiary, Vostoknefteprovod, RBC reports. Transneft indicated in a statement that the total amount of the loan is not supposed to top RUB 263.811bn (approx. USD 10.12bn), withholding any further details of the loan facility and names of prospective creditors.
Earlier, the company took out a loan of RUB 65bn (approx. USD 2.49bn) from Sberbank to build the ESPO pipeline back in August 2006, and agreed on a loan facility worth RUB 145bn (approx. USD 5.56bn) in June 2007.