Reuters reported that Russian electricity producer Mosenergo has secured a EUR 186 million credit line from France BNP Paribas to finance its investment program.

Mosenergo which is controlled by Gazprom will be able to draw on the line for the next 13 and half years.

Gazprom said the loan would be used for financing or refinancing Mosenergo current contracts with French engineering group Alstom and Russia's EM-Alliance.

In June, Mosenergo secured a credit line of up to EUR 415 million for 16 and half years from France Calyon and Germany's Norddeutsche Landesbank.

(Sourced from Reuters)