OREANDA-NEWS. December 08, 2014. VTB Bank has opened a five-year, RUB 7 billion credit line for leading Russian ferroalloy producer Chelyabinsk Electrometallurgical Plant (ChEMK).

"This new facility, opened as part of our longstanding cooperation with ChEMK group, will enable its plants, which are among the leading ferroalloy suppliers in Russia and the world, to use the financing for business development and for the optimisation of their borrowing portfolio. I am confident that this new credit line will promote the f urther expansion of our mutually beneficial cooperation".

Yuri Soloviev, First Deputy President and Chairman of VTB Bank Management Board

For reference:
The Chelyabinsk Electrometallurgical Plant (ChEMK) is a major Russian producer of ferroalloys. The company operates over 50 divisions including five ferroalloy plants and five electrode plants based in Chelyabinsk as well as eight divisions in the Chelyabinsk Region, two in the Komi Republic and the Yamal-Nenets Autonomous Area, and a branch in Vladivostok.

The company manufactures over 120 different products.