Gazprombank, one of the three largest banks in Russia, has announced that it has determined the credit limit for Russian steel and pipe producer OMK at the amount of Ruble 9.8 billion (approx. $316 million) for the period up to 2012.
Accordingly, the borrowed funds will be used by OMK for its current financial-economic activities.
In 2008, OMK produced more than 1.5 million mt of pipes and 783,000 mt of railroad wheels.