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Monday, May 15, 2006

Sibur petrochemical giant to secure $37-mln loan from ING Bank

MOSCOW, May 15 (RIA Novosti) - Sibur, Russia's leading petrochemical company, said Monday it would secure a credit line of 27 million euros ($34.6 million) from Netherlands-based ING Bank N.V. for equipment imports. The Siberian-Ural Petrochemical and Gas Company (Sibur), which is 100% owned by Russian energy giant Gazprom (RTS: GAZP) and subsidiary Gazprombank, said in a statement that the eight-year unsecured loan would be offered on "attractive terms." The company said it intended to develop cooperation with ING Bank and several other Western banks.

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