OREANDA-NEWS. March 05, 2013. A strategic cooperation agreement between VTB Bank and the Narzan mineral water producer has been signed in Moscow. The agreement was signed by VTB Deputy President and Chairman of VTB Bank Management Board Mikhail Oseevskiy and President, Chairman of the Board of Directors of Narzan Vladimir Borodavkin.

The signing of the agreement took place immediately after the approval by the VTB Credit Committee of a RUB 500 million long-term credit line for the development of the Kislovodsk-based company’s water resources and production capacities. The producer is currently implementing an innovative project involving the direct bottling of naturally carbonated Narzan, which removes the need to add carbon dioxide.

Mikhail Oseeevskiy said, “The agreement we have just signed is an emphatic confirmation of VTB’s activity in the regions. Allocating funds for investment projects implemented by regional companies like Narzan is one of the main drivers of growth of VTB business in the regions.”