Date: 9 months ago   Category: Finance

VTB has provided financing of the Indian Matix of $150 million — Rambler News Service


Photo: Evgenia Novozhenin/RIA Novosti of VTB has provided financing to the Indian Matix group, engaged in production of ammonia and a carbamide, of $150 million for refinancing, have reported in the press service of bank. "VTB and the Indian Matix group have signed the memorandum of understanding which provides financing of 150 million US dollars in an equivalent in euro … The loan will be granted for refinancing of the current debt and a conclusion of production at full capacity" — it is said in the statement. The agreement has been signed within the Russian-Indian summit in Delhi. The chairman of the board of VTB Andrey Kostin has noted that the bank successfully cooperates with Matix several years. According to him, "signing of the memorandum of understanding confirms intentions of bank to further support cooperation with the Indian group for development of production of fertilizers in the region and strengthenings of the Russian-Indian relations and also emphasizes positions of Russia and India as reliable economic partners on the international scene". The Indian Matix group is a one-line complex on production of ammonia and a carbamide in West Bengal.

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