Moscow credit Bank (ICB) has provided funding to one of the enterprises of JSC "UMMC" (Ural mining and metallurgical company) - Revdinsky factory OTSM in the amount of 450 million rubles in the framework previously established in the ICD of credit limits for the Group UMMC in the amount of 10 billion rubles these funds were provided to Finance working capital PJSC "RZIM" in the framework of current economic activity. The Bank started cooperation with a Group of UMMC at the end of 2019.
"IBC is committed to provide its corporate clients a range of quality services that allow you to close the maximum of the evolving needs of large companies. At the moment we are working with the Ural mining and metallurgical company under the credit line, but in the near future we plan to implement a holding company and other products: Bank guarantees, letters of credit, foreign exchange operations. To do this, ICD has all necessary instruments," said Alexander Afonin, the Director of Department for work with industrial enterprises of the ICD.
UMMC unites over 40 enterprises in the mining industry, nonferrous metallurgy, mechanical engineering, and other fields. The company is included in the list of strategic organizations of Russia is one of the largest producers of cathode copper, the largest producer of zinc, and second in coal production. The company is based on a closed process chain of copper, from extraction of raw materials to production of finished products based on it (copper rod products, copper powders, rental, cable and wire products, heat exchangers). In addition, the companies of the group produces precious metals, lead, selenium, tellurium, copper and Nickel sulphate, other by-products. The company's share in the world production of copper is about 1.5%, zinc 2%, and the coal trade more than 2%.
