Expansion of Russia’s tanker fleet may require at least RUB 1 trillion, Andrey Kostin, President and Chairman of the Management Board, VTB, said at the 15th Verona Eurasian Economic Forum held in Baku.
“One more question in this context - increasing the capabilities of the national tanker fleet as well as the capabilities of national insurance and reinsurance companies. That is a lot of money. According to our estimates, only the tanker fleet expansion may require at least RUB 1 trillion in the near time. Amid the absence of external financing and limited financial flows of the companies, the role of banks in attraction of required investments will only increase,” said Andrey Kostin according to Piter.TV.
The head of VTB added that the tanker fleet development would help in stimulation of domestic hydrocarbons supply to the global market.
Related link:
Need for tankers >>>>