OREANDA-NEWS. April 12, 2011. VTB Bank has provided a one-year RUB 500 million facility to Magnezit Group Ltd. The funds are granted on the terms of unsecured lending to finance the Group’s current operations, reported the press-centre of VTB.

Magnezit Group companies have been VTB customers since 2001, duly performing their obligations and liabilities to the Bank. VTB is a major lender to the Group, with total liabilities of Magnezit members amounting to RUB 1 billion.

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Magnezit Group is an innovative company among the world leaders in manufacturing magnesia refractory materials. The company provides a full production cycle and marketing: from mining of raw materials to offering engineering and maintenance services. It is comprised of 15 enterprises in Russia, China, Germany and Slovakia.