September 16, 2010

VTB North-West funds Pravdinsk Pig Production's new pig farm

Russian bank VTB North-West has set a credit limit of RUB1.344 billion (US$43.77 million) for Pravdinsk Pig Production to be used for building a pig farm, the bank's press office said Wednesday (Sep 15).

The Russian pork producer plans to build the pig farm in the Pravdinsky District of the Kaliningrad Region.

Under the credit limit agreement, the company received a 563.5 million ruble loan and a RUB780 million (US$25.4 million) five-year credit line. The interest rates were not provided.