USM to build hot-briquetted iron plant with $620 mln Sberbank loan

ST.PETERSBURG, Jun 4 (PRIME) -- Sberbank and the USM holding company of Alisher Usmanov signed an agreement on Friday on strategic cooperation, including a U.S. $620 million credit line to build one of the world’s largest hot-briquetted iron plants in the Kursk Region, USM said in a statement.

The capacity of the plant, to be launched in January–June, 2024, will amount to 2 million tonnes.

The credit line is to be repaid in December 31, 2034.

(73.2636 – U.S. $1)

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