OREANDA-NEWS. VTB Bank has made available an additional USD 100 million credit to fertiliser maker Acron Group, increasing its three-year targeted programme to finance Acron's mineral fertiliser exports from USD 200 million to USD 300 million.

VTB has been growing its partnership with Acron since 1996, providing transaction services including cash settlements and trade financing alongside investment banking services and borrowing facilities.

“Providing financial services to companies in the chemical industry is a strategic priority for VTB Group,” said Yuri Soloviev, First Deputy President and Chairman of the Management Board of VTB Bank. "Acron has been a reliable partner for many years. VTB intends to further promote its business by providing financing and modern banking services”.

“Despite high volatility on the phosphate and potash markets, the overall market for nitrogen products is still liquid, which means Acron's products enjoy stable demand,” Acron Senior Vice President Oscar Valters said. "The funds raised through this programme will help support the company's sales on the global mineral fertiliser market in line with its existing long-term contracts.”