OAO Gazprom (GAZP), Russia’s gas export monopoly, received a $270 million loan for its Novy Urengoi chemicals facility in Siberia, Interfax reported, citing an unidentified Russian banker.
The loan is from Bank of America Corp. (BAC), WestLB AG and HSBC Holdings Plc (HSBA), according to Interfax. The plant, which will produce 400,000 metric tons of polyethylene annually, may start operating in 2013 at the earliest, Interfax reported. The project was previously put on hold.
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