The EDB to provide EUR 98.4 million to GTLK to build ten RSD59 dry cargo vessels for the Astrol Shipping Company

03 June 2021

St. Petersburg, 3 June 2021. The Eurasian Development Bank (EDB) will provide a EUR 98.4 million loan to GTLK to build ten RSD59 dry cargo vessels at the Okskaya Shipyard (Russia). All the ships will be leased to the Astrol Shipping Company. The agreement was signed during the St. Petersburg International Economic Forum by Nikolai Podguzov, Chairman of the EDB Management Board, and Evgeny Dietrich, CEO of GTLK.

The agreement will promote cabotage on Russia’s inland waterways. The main types of cargo will be grain, coal, bulk construction materials, and materials for the upgrade of oil refineries, power and chemical plants in the Volga region, as well as for the development of offshore fields in the Caspian Sea.

The advantage of RSD59 vessels with a 7-400 tonne deadweight is their versatility. These river ships can cross the sea and deliver cargo from river ports to sea ports without transhipment.

“In addition to addressing the important task of upgrading Russia’s river fleet, the EDB’s participation in the project will help to increase the country’s gross output by US $145 million through the construction of ships and generate an additional US $20.5 million annually from their operation. The project will create dozens of jobs. The EDB always appreciates the potential of projects when it comes to cooperation with GTLK,” said Nikolai Podguzov, Chairman of the EDB Management Board.

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries –      Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals US $7 billion. The Bank was established in January 2006 and is headquartered in Almaty. The EDB’s portfolio mainly consists of projects with an integration effect in the areas of transport infrastructure, digitalisation, green energy, agriculture, industry, and mechanical engineering.

The EDB Media Centre:

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)

Sergey Gorbachev +7 (916) 727 22 00 (Moscow)

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