YEREVAN, July 18./ARKA/. “Mika Cement” plant resumes functioning as it receives lending from VTB Bank (Armenia).

“The bank allocated funding so as the company could fulfill its loan commitments, including natural gas and salary debt redemption, etc. Also, funding aims at improving equipment and covering some other expenses required for “Mika Cement” operation,” the bank’s press office reported Thursday
VTB Bank (Armenia) General Director Yuri Gusev said the bank had been cooperating with “Mika Cement” for many years, and “we are happy our bank is supporting one of the industrial giants of Armenia.”

“Our goal is to reproduce cement, assist the plant in boosting and improving the quality and volumes of cement. We hope our partnership will go on developing furthermore,” he said
“Mika Cement” plant produces nearly 10 brands of Portland cement. The plant exports its production to Iran, Iraq, Europe and the Russian Federation.

VTB Bank (Armenia) joined VTB Group in April 2004. VTB, the second largest bank of Russia, holds 100% of shares of Bank VTB (Armenia). Bank VTB (Armenia) has 67 branches all over Armenia’s territory. Bank VTB (Armenia) is traditionally reckoned among leaders for general indicators. -0-