OREANDA-NEWS. November 15, 2013. Sviaz-Bank (Vnesheconombank Group) has opened a revolving credit line with a debt limit of USD 240million to Akron OJSC for a drawdown period of three years.

The borrower will use the credit line funds to finance its current operations.

The Akron Group consists of three big manufacturers, operates its own transportation infrastructure and an international sales network, and also develops projects to produce natural resources. The Group’s core activities include manufacture of ammonia, nitrogen and complex fertilizers, and organic synthesis and inorganic chemistry products.

“Sviaz-Bank has been supporting this Russian and world leader in mineral fertilizer production for four years already, enabling the company to build up output, develop new markets, and promote its potential in other market segments as well,” said Sergey Volokhov, Vice Chairman of Sviaz-Bank’s Management Board. “The Bank opened its first credit line to the company in 2010, and the borrower could begin construction of the Oleniy Ruchei ore mining and dressing factory in that same year.”