During the St. Petersburg International Economic Forum, VTB Bank, represented by Senior Deputy President and Chairman of its Management Board Yuri Soloviev, and Acron Group, represented by Chairman of its Board of Directors Alexander Popov, signed a five-year loan agreement for RUB 20 billion. The funds will be used to finance Acron Group’s ongoing operations and capital investments, including ESG expenses.
VTB Bank’s Soloviev said, ‘VTB is systematically expanding its cooperation with Acron Group as a creditor and investor in a variety of the Group’s projects. This agreement will strengthen our partnership and expand the mutual benefits. Our bank is always prepared to contribute to the development of a Russian company that invests in its own capacity, expands its product portfolio, and cares for the environment. Taking a responsible approach to business at all stages of a company’s life is the key to sustainable development and high-quality growth’.
Popov also sees the loan agreement as a strong platform for developing the mutually beneficial relationship between Acron and VTB Bank. ‘The Bank’s financial support will help us continue implementing our development strategy as planned. The funds will be allocated to expanding production, including ESG projects and innovative solutions for increasing the output of high-quality, environmentally friendly products that are in demand across the globe’, he explained.
In September 2020, VTB Bank became Acron Group’s partner on the Talitsky potash project in Perm Krai, acquiring 10% of the project’s operator, Verkhnekamsk Potash Company.