Russia's Avtovaz in talks on 24 bln credit line

Newswire

TOGLIATTI, Russia, April 27 - Reuters) - Russian car-maker AvtoVAZ said on Tuesday that it is in talks with Russia's banks Sberbank and VTB about a 24 billion roubles ($824.2 million) credit line. The company's deputy head Oleg Lobanov also said that the company needs 42.7 billion roubles for its investment programme until 2020. AvtoVAZ had to be bailed out by the state last year after flirting with bankruptcy. (Reporting by Gleb Stolyarov; Writing by Lidia Kelly)

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