VTB Bank has signed an agreement with Novoroscement, the largest cement producer in southern Russia, to provide a RUB 920 million credit line to finance the company’s current operations.
VTB Bank has extensive experience working with Russia’s leading manufacturers of construction materials, and is the industry’s largest lender.
The partnership between VTB and Novoroscement has been growing for over two decades. Alongside lending, VTB also provides the company with transaction banking services, such as cash management, conversion services, trade finance and foreign exchange control.
VTB and Novoroscement are planning to further develop their mutually beneficial cooperation, involving a range of banking products which will help the cement company to do business as efficiently as possible.
Novoroscement is Russia’s oldest cement producer. It will mark its 130th anniversary this year. It is also among the largest manufacturers of building materials and the main supplier of cement in the Krasnodar Territory. The company’s production capacity exceeds 4 million metric tonnes of cement of various grades and types per year, accounting for 8% of the Russian cement industry’s output.