November 7, 2019 / 7:22 AM / 6 days ago

Russian state banks VEB and VTB lend $532 mln for coal terminal project

MOSCOW, Nov 7 (Reuters) - Russian state development bank VEB said on Thursday it and VTB bank would provide financing worth 34 billion roubles ($532.4 million) for the construction of a coal loading terminal in Vanino port in Russia’s Far East.

VEB also said the terminal’s initial capacity was expected to be 12 million tonnes of coal per year, while loading operations were scheduled to begin in 2020. Its total annual capacity was seen rising to 24 million tonnes. ($1 = 63.8600 roubles) (Reporting by Darya Korsunskaya; writing by Vladimir Soldatkin; editing by Tom Balmforth)

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