OREANDA-NEWS. November 26, 2013. VTB Bank has signed two loan agreements with the Vysokogorsky GOK iron ore mining and processing plant to provide RUB 700 million in financing for a period of five years. The company will use the funds to finance its operations.

Lending funds to the Ural Federal District’s largest mining corporations is the cornerstone of VTB’s business in the region. We work closely with these businesses and support their modernisation programmes".

Mikhail Oseevskiy, Deputy President and Chairman of VTB Bank Management Board

Vysokogorsky GOK chief executive Andrei Lunegov said: “The agreement with VTB Bank will enable us to develop production effectively, to the benefit of the economy of the Sverdlovsk Region as a whole.”