VTB Group has granted $150 million of credit money to ALROSA, one of the world’s largest diamond mining companies, RIA Novosti reported, citing the press service of the bank.
VTB Bank (Austria) AG, which is a member of the VTB Group’s European sub-holding, was the agent for this credit transaction.
"This deal marks another step in the development of cooperation between VTB and ALROSA, which are strategic partners, and confirms the readiness of VTB to provide comprehensive and high quality customer service," Andrey Burlin, Senior Vice President of VTB, said commenting the deal.
ALROSA is Russia's largest diamond producer, which accounts for about 30% of the global diamond output. ALROSA Group produced 34.6 million carats of diamonds in 2011.
Its sales reached 4.45 billion dollars driving ALROSA’s net income to 29.5 billion rubles and the company’s revenue to 117.78 billion rubles under RAS in 2011.
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