VTB Group has agreed to assist Russian Platinum in the development of the Chernogorskoye deposit and the southern part of Norilsk-1 deposit in the Krasnoyarsk region, VTB said in a statement.
In accordance with a memorandum on strategic cooperation, VTB will have a chance to buy a stake in a project company and will act as a financial advisor of Russian Platinum for attracting international investors. The deal also encompasses project financing from VTB and other financial organizations.
VTB CEO Andrei Kostin said the participation in the project was an attractive financial investment for the bank in the long-term. (Prime/Ukrainian metal)