Otkritie Bank and UGMK-Holding LLC signed a new loan agreement in the amount of 21 billion rubles. for a total period of 10 years.
Financing within the framework of the concluded agreement will be incl. is aimed at financing the construction of an underground mine of the UMMC Group at the Yubileinoye deposit.
This transaction is a continuation of the successful cooperation between Otkritie Bank and UMMC holding, which began in 2018, ”said Vice President, Director of the Department of Operations with clients of Otkritie Bank Ekaterina Chirkova. “The product line and expertise of the corporate and investment block of the bank allow us to successfully implement significant infrastructure projects in a short time.” Andrey Kozitsyn, director of UMMC-Holding.
Reference:
Ural Mining and Metallurgical Company (UMMC) unites more than 40 enterprises of various industries industry located in various regions of Russia. UMMC Holding is one of the largest vertically integrated companies in the country.
The holding's key assets are concentrated in the mining industry, non-ferrous metallurgy and machine building. The company is based on a closed technological chain for copper: from the extraction of raw materials to the production of finished products on its basis (copper wire rod, rolled metal, cable and wire products, radiators). In addition, the Ural Mining and Metallurgical Company is the largest producer of metal zinc in Russia, as well as the second largest coal producer in the country.
The Yubileinoye deposit is an underground mine with reserves copper and copper-zinc ore, located in the Republic of Bashkortostan. Currently construction is underway, completion date - 2025.
