OREANDA-NEWS. July 26, 2012. Acron’s subsidiary Verkhnekamsk Potash Company has executed a package coinsurance contract for construction of the Talitsky mine with leading Russian insurance companies VTB Insurance and SOGAZ. This contract covers all construction and assembly risks, third party civil liability, VPC property at the mine site and other aspects. As of the date of the contract, the insured amount exceeds RUB 53 billion. The risks reinsurance on international insurance market is contemplated in view of the project’s complex nature and significant insurance coverage. Most of the risks will be transferred to international companies within next weeks. Thus, it is the largest Russian mining project on the international insurance market.

Oscar Valters, Acron’s Senior Vice President commented on the deal:

“Talitsky mine has strategic importance for our company; therefore we are keen to secure ourselves and our co-investors against all risks, which can arise in the course of implementation of this major project. The insurance programme and the executed contract itself were drafted by Willis insurance broker; and leading Russian and international insurance companies will be our partners at least till 2018. This transaction is another proof of the high creditworthiness in Acron Group from the financial community and serves as an additional guarantee for our co-investors.”