Volga | Finance, business

Road builder Doriss takes out $4.1m loan in machinery overhaul

17 Sep '08
Cheboksary-based road construction firm Doriss has taken out a $4.1m loan from Sberbank to finance an equipment upgrades project.

The firm said the five-year loan would help overhaul its fleet of road-building machinery and purchase crushing and grading

Doriss is to use borrowed funds to purchase crushing and grading complex and other specialized equipment.

Equipment is to be purchased from Germany firms Wirtgen and Black Move, along with Swedish Volvo and Ńaterpillar from the US.

The move brings to $26.2 the amount the bank, acting through its Chuvash branch, has lent the firm since 2005.
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