Russian Copper Company gets state funding

12 February 2016 (09:41)

UrBC, Yekaterinburg, February 12, 2016. Russian Copper Company was issued a state-funded, preferential-terms loan by Roseksimbank (backed by the Industry & Trade Ministry) so that the business could introduce new technologies and improve its product quality, the company press service reports.

A two-year credit line ($40m) was offered to the company in late 2015; the borrowed funds will be directed to the production of hi tech copper wire for the foreign markets.

‘This was a benchmark contract for both Roseksimbank and Russian Copper Company, so the bank decided to have some souvenirs made for the event. Deputy Chair of the Board Konstantin Aksenov presented the souvenir to Russian Copper Company’s Vice President for Finance & Economic Issues Maxim Shchibrik at Saint Petersburg Economic Forum in Yekaterinburg on February10, 2016,’ the company says.

Roseksimbank also supported Russia’s energy and electric power projects in Ecuador, civil aviation exports to Cuba, and delivery of railcars for Hungarian subway systems.

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