28 Sep 2011 09:30

VEB board approves financing for Ford-Sollers project

MOSCOW. Sept 28 (Interfax) - The supervisory board of Vnesheconombank (VEB) has approved financing for the Ford-Sollers project to set up a new automobile production facility, VEB chairman Vladimir Dmitriev said on Tuesday.

The financing will total "about 39 billion rubles for ten years," including 36 billion rubles for capital expenditures and 3 billion rubles for working capital, Dmitriev told reporters after the board meeting.