November 14, 2012

Russia's VTB lends US$85 million to Russia Baltic Pork Invest

A credit line exceeding RUB2.7 billion (US$85 million) has been opened by Russia's Kaliningrad branch of VTB to Russia Baltic Pork Invest (RBPI) with maturity in seven years.

This was according to the report of the lender's North-Western Regional Centre.

Earlier, VTB allocated funds for the RBPI project to set up a pig farm in the Novobiyskoye village of the Kaliningrad Region's Pravdinsk District. The second stage of the farm was commissioned in October.

The pig farm project was implemented by Pravdinsk Pig Production, one of the RBPI units.

Russia Baltic Pork Invest is a large scale grain- and pork producer with operations in the Russian exclave on the Baltic Sea.