Transneft on lookout for bigger loan
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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.