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VTB lends to Chelyabinsk Electro-Metallurgical Complex

23 April 2010

In April 2010 VTB Bank provided a one-year USD 33.5 million credit facility to JSC Chelyabinsk Electro-Metallurgical Complex. The funds were granted on the terms of unsecured lending to finance the complex’s current activities.

VTB Group and Chelyabinsk Electro-Metallurgical Complex are long-time partners. The company has been the Banks’ customer since 2003. Earlier, the funds were channeled into replenishing working capital and purchasing new equipment.

Every liability to the Bank on behalf of Chelyabinsk Electro-Metallurgical Complex is always discharged in time and in full.  

For reference:

Chelyabinsk Electro-Metallurgical Complex is the largest Russian manufacturer of ferrous-based alloys. It consists of more than 50 structural subdivisions of ferroalloy and electrode production. The company employs nearly 8 thousand people.

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