Gazprombank: Gazprombank signed a Credit Insurance Agreement with EXIAR to finance the “Titan-Polymer” plant

Gazprombank signed a Credit Insurance Agreement with JSC “Export Insurance Agency of Russia” to finance the project of the export-oriented “Titan-Polymer” LLC enterprise establishment in the special economic zone “Moglino” in Pskov region. The plant specializes in the biaxially-oriented BOPET-film (capacity is up to 72 thousand tons per year) and PET-pellets (capacity is up to 210 thousand tons per year) production.

The products refer to non-resource and non-energy export and have a vast scope of application: BOPET-film will be the basis for various flexible package production, and PET-pellets will be used as a basis for BOPET-film, threads and fibers production. The projected volume of export supplies under the project will amount to 30 billion rubles over a period of 10 years.

“One of the priority tasks for Gazprombank is to support investment projects aimed at increasing the competitiveness of Russian companies. Implementation of such projects as creating of the modern chemical polymer production by the “Titan-Polymer” LLC supported by EXIAR contributes to the domestic industry development as a whole” Gazprombank Deputy Chairman of the Management Board Alexey Belous noted.

“JSC “EXIAR” cooperates for the first time with AO GC Titan, one of the largest petrochemical companies in Siberia. The Credit Insurance Agreement signed with Gazprombank enables “Titan-Polymer” LLC to create competitive and export-oriented production of PET-pellets and BOPET-films in Pskov region, in close vicinity to the European export markets. In the future the project provides the formation of the first on the Russian market large-scale production of the textile PETF” General Director of JSC “EXIAR” Nikita Gusakov said.

“The production meeting the highest standards will be created on the SEZ “Moglino” territory. A manufacturer of special-purpose copolymers will appear for the first time in Russia. The project implementation will allow complete covering of the domestic production demand for BOPET and PET products. The “Titan-Polymer” plant is necessary not only for Pskov region. It is needed for the whole country. We are grateful to the financial partners for the project support” Chairman of the Board of Directors of the AO GC Titan Mikhail Sutyaginsky commented.

Information

Gazprombank (JSC) is one of the top three Russian banking industry leaders in terms of key volume indicators (according to INTERFAX-100. Banks of Russia) and also one of the largest financial institutions of Central and Eastern Europe.

Gazprombank provides a wide range of services to corporate and private clients. The Bank provides services to key sectors of the Russian economy - gas, oil, chemical and petrochemical, metallurgy, electric-power engineering, mechanical engineering, transport, construction, communications, agro-industrial complex, trade and other industries.

The Gazprom retail business is focused on providing modern high-technology products and services. At the beginning of 2020 the Bank serves about 5 million clients - private customers, at the year-end 2019 the retail loan portfolio is more than 550 billion rubles, the retail deposits portfolio - more than 480 billion rubles.

The Stock Company “Russian EXIAR Insurance Agency” was founded in 2011 in accordance with the Federal Act No. 236-FZ On amendments to a number of legislative acts of the Russian Federation to improve insurance mechanism of export credits and investments against entrepreneurial and political risks, and also by the Decree of the Russian Government of November 22, 2011 No.964 On business arrangements regarding export credits and investments insurance against entrepreneurial and political risks”.

The Group of companies Titan is one of the key investors and taxpayers of Omsk region. It unites about 20 enterprises in Omsk and Rostov regions, Moscow, St. Petersburg and Republic of Bashkortostan. The general number of employees is more than 4500 people. More than 10 investment projects have been implemented by the company in Russia and abroad for the 30 years. The company has a range of international, federal and regional awards for the production quality, achievements in the field of production ecology, social responsibility and volunteer initiatives.

Source: Gazprombank (JSC), 01.03.2021

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