Vozrozhdenie Bank, one of Russia's top 30 banks, will grant a 30 million euro loan to Electrostal Metallurgical Plant to continue its upgrade, the bank said on Tuesday.
In 2010, Vozrozhdenie gave a 10 million euro credit to the plant to buy new equipment in Germany.
The plant plans to set up a production complex for deep processing of products made of special alloys with the help of foreign funding, the bank said in a statement.
Vozrozhdenie expects to boost its corporate credit portfolio 15% this year, the statement said.
MOSCOW, January 25 (RIA Novosti)
