Sberbank has financed the Russian Copper Company enterprises.
A loan agreement of $326 million has been concluded with Kyshtym Electrolytic Copper Pant (KMEZ) and Karabashmed.
The funds will be used to modernize the copper electrolysis shop and construct the copper shop at KMEZ and to improve copper capacities at Karabashmed.
In particular, KMEZ will increase output by 64%, to 230 thousand tons of cathodes per year and will be the first in Russia to produce electrolytic copper foil (1.2 thousand tons).
Sberbank financing will allow Karabashmed to increase output by 40%, to 230 thousand tons of copper per year and create a new site of copper cathodes manufacture of 265 thousand tons. (Ukrainian metal)