Russia’s Novoroscement opens RUB1bn credit line with VTB Bank

Russia’s Novoroscement opens RUB1bn credit line with VTB Bank
Published: 08 June 2011

Russian cement producer Novoroscement has opened a RUB1bn (US$36m) credit line with Russia’s VTB Bank, the bank’s press office said Tuesday.

The annual interest rate and maturity were not provided.

The company is expected to use the funds to finance its current operations.

Novoroscement comprises three cement plants in the Krasnodar Region with a capacity of over 4Mta of cement.