Conti gets Euro bank loan for Russian plant

ERJ staff report (TB)

Tire Business Staff Report

Moscow — The European Bank for Reconstruction and Development (EBRD), citing the need to foster energy efficiency in Russian industry, has agreed to provide $116 million (Euro 90 million) in funding to Continental AG for the German firm’s tyre plant being built in Kaluga, Russia.

The funding, in the form of an eight-year loan, will fund part of the cost of the $320 million plant, which Conti committed to build in 2011.

Construction on the…

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