Consortium could invest $ 60 bn in Russian Industry

Sep 10, 1997 02:00 AM

An investment consortium of Russia's largest banks and company's could invest up to $ 60 billion in Russian industry over four to five years in addition to budget allocations, Alexander Drozdov, advisor to the chief executive of National Reserve Bank, told. The consortium was formed on the initiative of Gazprom, LUKoil, Unified Energy Systems of Russia, National Reserve Bank, Gazprombank, the banks Imperial and Vozrozhdenie, Vneshtorgbank, Inkombank, insurer Ingosstrakh and other financial institutions and corporations, he said.

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