• IBEC provides Russia’s State Transport Leasing Company with USD 22,7 million

IBEC provides Russia’s State Transport Leasing Company with USD 22,7 million

On 30 October 2018 International Bank for Economic Cooperation provided Russia’s State Transport Leasing Company with USD 22,7 mln loan for a period of 5 years. The STLC will use the loan from the IBEC to finance purchase of equipment for the first two stages of Lavna coal transshipment complex in the Murmansk sea port construction.

The project is implemented in accordance with the government project «Complex development of the Murmansk transportation hub» under the State program of the Russian Federation «Development of transport system» included in the Transport strategy and the Strategy for development of railway transport of the Russian Federation for the period up to 2030. Development of the sea port infrastructure will contribute to the increase of coal export volumes. The project involves the construction of a modern port complex for coal transshipment using the newest equipment, with a capacity of 18 mln tons per year, and the construction of access railway tracks for private use from the Lavna Station to the port complex with a length of 2.3 km. Equipment for the project is being procured from the Thyssenkrupp Industrial Solutions AG, Germany.

State Transport Leasing Company (STLC) is the largest leasing company in Russia. The company offers leasing of aircraft, water and railway transport, energy-efficient urban passenger transport, roadwork and specialized technical equipment for the organizations involved in Russian transport industry, as well as exercises investment activities in order to ensure the development of Russian transport industry. The sole shareholder of the company is the Russian Federation represented by the Ministry of Transport. STLC has double B category credit ratings from three leading international rating agencies and also has «A+(RU)» rating on a national scale from ACRA. The company’s leasing portfolio as of September 30th 2018 exceeded RUB 893 bn.