Severstal receives $20 million loan
Russian steelmaker
Severstal will receive a $20 million loan from the Black Sea Trade & Development Bank (BSTDB) to use for purchasing equipment from two Ukranian producers for the improvement of its
production facilities. Repayment of loan will be in 7 years.
Severstal which is located in Cherepovets, northwestern
Russia, has an annual
production capacity of over 10 million tons.
BSTDB has given more than $140 million loan, including the
Severstal project, to the
Russia.