Acron have increased its debt burden
VTB Bank and Acron Group signed a loan agreement of 20 billion rubles (approximately $275 million) for a period of five years. This amount will be used to finance the company’s current activities and capital expenditures, including the cost of implementing ESG-projects.
“The signed loan agreement strengthens the mutually beneficial partnership between Acron and VTB Bank. With this financial support, we will continue the implementation of the Group’s business development strategy within the previously scheduled time frame. The funds will be used to develop production, including ESG-projects and the introduction of innovative solutions that will increase the output of high-quality, environmentally friendly products that are in demand among consumers around the world,” said Alexander Popov, Chairman of the Board of Directors of Acron Group.
In September last year, VTB Bank became a partner of the Acron Group in the implementation of the Talitsky potash project (Perm region). VTB acquired 10% of the authorized capital of the Verkhnekamsk Potash Company, which is the operator of the project.