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Russia Metropol Eyes $1 bln Loan for Zinc Project
NIZHNEANGARSK, Russia, July 19 -- Russian investment house IFC Metropol is close to securing a $1 billion loan from state-run bank VEB to develop a major zinc field in eastern Siberia, Metropol's head and main owner told Reuters.
"We have reached a stage of detailed negotiations with VEB," Mikhail Slipenchuk told Reuters in an interview. "It is ready to provide the loan of $1 billion for seven years at an interest rate of 10 percent."
A VEB spokeswoman confirmed that the bank is considering the loan but has yet to approve it.
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