VTB opens credit facility for Berezniki Soda Works in Perm krai

AK&M 06 August 2020 23:32

VTB has opened a credit facility for the Berezniki Soda Works in Perm krai. The 2-year loan agreement amounted to RUB 1 billion, the bank informed.

The company will be able to use the financing both to replenish its working assets and to upgrade its fixed production assets. In particular, the proceeds can be used for the development of project documentation for the construction of a sodium chloride solution production site.

In the first half of 2020, the bank increased its corporate loan portfolio in the region by 4% to RUB 40 billion.

Berezniki Soda Works (tax number: 5911013780) is one of the leading soda ash producers in Perm Krai and Russia with a production capacity of 500,000 tonnes per year. The company's share in the market of commercial products is about 15%.

VTB Group is a Russian financial group comprising more than 20 credit and financial companies operating in all the key segments of the financial market. In the CIS, the group is active in Armenia, Ukraine, Belarus, Kazakhstan, Azerbaijan. VTB's banks in Austria, Germany and France are operating as parts of the European sub-holding led by VTB Bank (Austria). Besides, the group has subsidiary and affiliate banks in the UK, Cyprus, Serbia, Georgia and Angola, as well as one VTB branch in China and India, two VTB Capital Plc branches in Singapore and Dubai.