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VTB finances new Druzhba Group dairy farm

 
24 July 2014

© RIAN, Egor Zarembo

VTB Bank has issued a ten-year, RUB 600 million loan to Druzhba Group to finance the construction of a new dairy farm.

Druzhba Group is a leading vertically integrated agricultural company in the Bryansk region, specialising in livestock breeding, crop and fodder production and meat processing.

 
 
 
 
VTB Bank’s cooperation with Druzhba in this long-term project will make a significant contribution to the development of the infrastructure in the Bryansk Region. The project is a major step towards making the region’sagricultural industry efficient and competitive.
Mikhail Oseevskiy,
VTB Bank’s Deputy President and Chairman of the Management Board

Druzhba founder Vladimir Zhutenkov commented: "I would underscore the speed with which VTB was able to provide the financing we required. We plan to continue cooperating with VTB because we believe we will always be able to do so on terms that are acceptable to us."

For reference:

The Druzhba Group of Companies was established in 2009. In 2013, it produced 300,000 tonnes of pork, 150,000 tonnes of combined fodder and 50,000 tonnes of vegetables. The Group’s companies operate a vertically integrated production cycle, which helps reduce costs and protects them from the volatility of the raw materials markets and pricing. The group holds many prizes from the Agriculture Ministry, the Bryansk Region Government and the Chamber of Commerce and Industry, and is also the winner of many international exhibitions and competitions.


Tags:
lending

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