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Teleset I

Russia | Telecommunication Services

Identification Code:: OP/03/0413
Total Operation Cost:: — USD
Maturity:: 84 months
Operation Status:: BSTDB Approved Amount – Approval Date

10.000.000 USD – 05 Jun 2004
: BSTDB Signed Amount – Signed Date

10.000.000 USD – 26 Oct 2004
: Status:
Completed
Description and Purpose of the Operation:: BSTDB extended a US$10 million loan to Teleset Ltd., a private fixed-line telecom operator in Kazan, (Republic of Tatarstan- Russian Federation) with Cyprus-based shareholders which represent financially solid companies with proved track record in diverse spectrum of activities including information technology services, namely Francoudri & Stephanou Group, Alpha Copy (Nokia Greece) and Manglis' Group. Teleset Ltd. was incorporated in 1996 and grew up to become the second largest fixed-line communications operator in the city of Kazan (Republic of Tatarstan, Russian Federation). Teleset offers wide range of modern telecommunications services using its own 100% digital network and leasing fiber optic network. The Company enjoys highly competitive position in the market, supported by its strong financial and operational indicators. The proceeds of the loan will be utilized to finance the company's fixed line network expansion plan, which includes the construction of intra-city and inter-city fiber optic network and Internet infrastructure.
Countries of Operation:: Russia (100,00%)
Financial Product:: Loans
Sector:: Telecommunication Services
Domain:: Private
Borrower/Client:: Teleset Ltd
Co-Financers/Participants:: —
Guarantors/Sponsors:: Teledev East Group, Cyprus
Developmental and Regional Cooperation Impact:: The Operation is expected to have noticeable economic development impact by contributing to further development and improvement of fixed-line telephonic services in Volga region of Russia and thus improving the living standards of the population. It is expected that at least 10,000 new subscribers per annum will have access to Teleset's telecom services. In addition, the Operation will contribute to opening new qualified vacancies in the region with high unemployment rate.
Environmental Classification and Impact:: The Project is in compliance with the Bank's Environmental Policy.
Operation Leader:: Energy & Infrastructure
E-mail:: ei@bstdb.org