MOSCOW, Nov 13 (Reuters) - Russian state-controlled bank VTB VTBR.MM said on Thursday it agreed to provide a one-year 5.5 billion rouble ($201.2 million) loan to steel maker TMK TRMK.MM.
VTB also said it was close to completing talks to provide TMK, which is Russia’s largest producer of pipes for the steel industry, with an additional loan worth 1.5 billion roubles.
TMK will use the 5.5 billion rouble loan to fund ongoing operations and to provide additional capital to its three main Russian plants, VTB said in a statement.
Reporting by Alfred Kueppers; Editing by Hans Peters
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