Sberbank opens credit lines for Belarusian oil refineries Naftan, Mozyr
MOSCOW. Jan 22 (Interfax) - Sberbank of Russia has opened credit lines jointly with its Belarusian subsidiary, BPS-Sberbank, for Belarusian oil refining concerns Naftan and Mozyr Oil Refinery totaling 150 million euro, Sberbank said in a statement.
The banks opened a two-year credit line with 100 million euro limit for Naftan and a two-year credit line with a 50 million euro limit for the Mozyr refinery. The money will be used to finance ongoing operations.
Sberbank opened credit lines of 5 billion rubles each for the two refineries in the third quarter of 2013 to guarantee payment to Russian oil suppliers, the statement says.
Naftan produces diesel fuel, gasolines, jet fuel, lubricants and other oil products. Mozyr Oil Refinery, one of the biggest petrochemical complexes in Belarus, produces various fuel types, bitumen and other petrochemical products.
In December 2013, the Belarusian government invited Russian Rosneft to take part in the privatization of the Mozyr refinery.
Sberbank was the biggest Russian bank by assets as of the end of the third quarter of 2013 according to the Interfax-100 ranking compiled by the Center for Economic Analysis.