VTB Bank in Omsk has opened a credit line of up to RUB 900 million to Ruskom Group of Companies.
Ruskom is a major food producer in Omsk Region. The company produces 200 varieties of food item and is also involved in cattle and poultry production.
Ruskom plans to channel RUB 700 million from the new facility to complete the refitting of its full-cycle Morozovskaya turkey meat packing plant. The upgrade will boost the plant’s capacity to 10,000 tonnes per year.
VTB has worked with Ruskom since 2013. In addition to financing, the company uses VTB Bank’s cash management and payment services, and forex transactions.
“Supporting regional producers is a strategic line of business for VTB Bank,” said VTB Deputy President and Chairman of the Management Board Mikhail Oseevskiy. “That is why we focus so closely on Ruskom’s project. The financing we are providing to a leading player in the Siberian meat packing industry will help the company upgrade its production facilities and reach out to new markets.”