10 Nov 2009 16:51

TMK to get state guarantees for loan restructuring

MOSCOW. Nov 10 (Interfax) - TMK , one of the world's top-three oil and gas industry pipe producers, will receive government guarantees to restructure its loan portfolio, Deputy Industry and Trade Minister Andrei Dementyev told a press conference during the Metal Expo exhibition in Moscow.

"Guarantees are being issued to restructure the loan portfolio. They were approved by the commission chaired by [Deputy Economic Development Minister Oleg] Savelyev and the Finance Ministry is now processing them," Dementyev said, without naming a figure.

TMK was not immediately available for comment.