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VTB provides financing to Urals vegetable oil producer

4 December 2013

VTB provides financing to Urals vegetable oil producer.

VTB Bank continues to provide financing to Russia’s largest agricultural producers.

The bank has issued a total of RUB 948 million over three loans to Chishminskoye, a production unit of Sigma agricultural holding company in Chelyabinsk. The loans have been provided for periods of up to 12 months and will be used to finance the company’s ongoing business activity.

“Supporting agricultural producers in Russia’s regions is a key priority for us,” said Mikhail Oseevskiy, Deputy President and Chairman of VTB Bank Management Board. “We continue to provide substantial amounts of funding to regional agribusinesses.”

Sigma Holding Companyis a major agricultural producer in the Urals and Siberia specialising in processing seeds for oil manufacture and has been successfully operating in this area since 1991. The company manufactures and markets vegetable oils and processed products in Russia, the CIS and beyond.

Chishminskoye, based in Kopeisk, the Chelyabinsk Region, was incorporated into Sigma Holding Company in August 2006. Chishminskoye teamed up with Sigma to work out a long-term programme aimed at quintupling the unit’s productivity to 1,000 metric tons per day. Chishminskoye is a fast growing business that uses cutting-edge oil and fat production processes and steadily increases the volumes of processed oil-yielding raw materials.

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