OREANDA-NEWS. September 29, 2011. Sviaz-Bank’s branch in Nizhniy Novgorod has opened a revolving line of credit totaling 2billion rubles to Mordovtsement OJSC within the framework of the loan agreement the lender and borrower signed for a drawdown period of 24 months.

The borrower will use the credit line funds to increase its working capital.

Mordovtsement OJSC is one of the biggest modern Russian companies producing and supplying building materials and has a full capacity of almost 6.8 million tons of cement a year. In 2010, the company produced 7.5% of all cement output in Russia.

“The Bank’s financial support will help the company diversify its operations, develop its manufacturing capacity, and boost output,” said Sergey Volokhov, Vice Chairman of Sviaz-Bank’s Management Board.