VTB Bank has approved a five-year loan facility of RUB 1 billion for Plemzavod-Yubileiny, a full-cycle pig breeding and processing company located in the Tyumen Region, West Siberia.
The company will use the funds to build Urals’ first factory for deep wheat processing with an annual capacity of 120,000 tonnes. The factory will be a vital element of the company and supply the necessary amounts of fodder for breeding purposes. VTB and Plemzavod-Yubileiny have signed a loan agreement for RUB 500 million.
“VTB supports companies that ensure their regions’ food security. By approving large loans, within the framework of investment projects, the bank is contributing to the development of the food industry in the regions,” said Mikhail Oseevskiy, Deputy President and Chairman of VTB Bank’s Management Board.
Plemzavod-Yubileiny was established more than 35 years ago and is one of the largest agribusinesses in the Tyumen Region. The company was awarded the honorary title Russian Leader 2015 for its successful economic operations.