Polymetal gets 5.7 bln rbl loan for Amursk plant construction

MOSCOW, May 12 (PRIME) -- The Far East Development Fund has provided a 5.7 billion ruble 10-year loan to Russia’s precious metals producer Polymetal for construction of the second line of the Amursk pressure oxidation plant (POX-2) in 2020-2021, the company said in a statement on Tuesday.

The interest rate on the loan stands at 5%.

The Amursk plant is expected to reach its full production capacity in the fourth quarter of 2023.

The plant’s capital expenditures until the end of 2020 are estimated at approximately U.S. $100 million, while total investments remaining until the end of the construction are expected to amount to $312 million, Polymetal said.

(73.8725 rubles – U.S. $1)

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