OREANDA-NEWS. January 13, 2011. Sviaz-Bank has opened a credit line with a debt limit of USD 90million to Akron OJSC for a term of three years. The borrower will use the loan to increase its working capital.

Akron Group is one of Sviaz-Bank’s key strategic partners. This year, the Bank has given over 5.7billion rubles (USD 185 million) in loans to the company to finance its operations. It plans to develop and expand its cooperation with Akron OJSC in the future.

Akron Group is a leading producer of mineral fertilizers in Russia and in the world at large. It manufactures a wide range of products, from complex fertilizers (NPK and dry mixes) to nitrogen fertilizers (carbamide, ammonium nitrate, and carbamide-ammonium nitrate mix). In 2009, the Group produced a total of 4.4 million tons (less the tonnage supplied to domestic users) of ammonia and mineral fertilizers. The Group sells most of its products to consumers in Russia, China and other Asian countries, Europe, Latin America, and countries that were republics of the former U.S.S.R.