VEB.RF, Sberbank, Gazprombank to lend $1.7 bln to Acron

ST.PETERSBURG, Jun 6 (PRIME) -- VEB.RF, Sberbank and Gazprom Bank will issue a U.S. $1.7 billion credit to finance development of the Talitsky segment of the Verkhnekamskaya potash and magnesium salt mine of fertilizer maker Acron, the firms said in a joint statement on Thursday.

The entire amount of the project stands at $2.5 billion. VEB.RF will provide $869 million, Gazprombank and Sberbank a total of $802 million.

The project will have a capacity of 7.5 million tonnes of ore and 2 million tonnes of potassium chloride per year.

End