Proletar: USD 1.8 million credit line from Ukreximbank

State-owned Ukrainian Export-Import Bank (Ukreximbank), has opened a USD 1.8 million credit line for the country“s largest flat glass manufacturer, Proletar (Lysychansk, Luhansk region).
According t…

State-owned Ukrainian Export-Import Bank (Ukreximbank), has opened a USD 1.8 million credit line for the country“s largest flat glass manufacturer, Proletar (Lysychansk, Luhansk region). According to a company statement, the loan agreement was signed on 3 March 2006. The loan has been granted for 3 months and has an annual interest rate of 17.5%. Ukreximbank opened a USD 2.5 million credit line for Proletar on 14 September 2005. In May 2005, the Proletar factory began construction of a float glass workshop in which it is planning to invest USD 40 million. A USD 17.8 million float line from the Chinese Glass Institute with a production capacity of 350 tons of glass a day will be installed in the workshop.