VTB Bank has provided three-year loans worth US$51.9 million to Kombinat Stroykomplekt (KSK) grain terminal, a Delo Group unit, to refinance its debts.
“We welcome the development of partnership relations with Delo Group. VTB is prepared to offer the company a full range of investment and banking services to help it develop its business,” said Yuri Soloviev, First Deputy President and Chairman of VTB Bank Management Board.
Delo Group, set up in 1993, is a group of transport and logistic companies including stevedoring, container and railway businesses, which offer a wide range of cargo transfer and ship bunkering services in the port of Novorossiysk, railway and multimodal container shipments, forwarding, customs clearance of export and import goods and transportation for oil and oil products.
The group employs over 2,000 people.
Kombinat Stroykomplekt (KSK) is a deep water grain export terminal in Novorossiysk with an annual capacity of 3.5 million tonnes. KSK also handles general and RORO cargo.