Biaksplen invests $29m in new polyfilm production equipment
21 Jan '08
Balakhna-based Biaksplen (a subsidiary of Moscow company Mosimpex Service Ltd) is finishing the installation of new equipment manufactured by French company DMT to produce polypropylene film. The total amount of investment in this project is expected to reach $29m.
Previously Biaksplen signed an agreement with French bank Natexis Banques Populaires to get a $27m loan through Russian bank Gazprom for the period until 2011. These funds were spent on purchasing the necessary equipment from DMT under a financial leasing scheme through Gazprombank’s subsidiary Gaztekhleasing. The project’s estimated payback period is three and a half years.