[Russia] Avangard Bank Backing Projects To Boost Bottle Output

Russian bank Avangard is funding glass container lines at three companies in 2004 and has allocated over $60M for the purpose. The most important project is construction of a US$25M clear bottle line in Sergiyef Posad (Moscow) for the Assotsiatsiya Rossiiskoye Steklo company. The new line will produce 360M bottles/year. Avangard is providing $20M to the Astrakhansteklo company for glass forming and other equipment to produce 240M bottles/year. The bank is also allocating another $20M to the Seversteko company at Tomsk, for the purchase of a Czech Skolstroy line capable of producing 150M beer bottles/year. (whole item)