Otkritie Bank opened a credit line to ULK Group of companies in the amount of $725 million

The line is open for three years, until December 25, 2026. These funds will be used for current business and investment projects of ULK Group – the Russian largest timber procurement and production holding.

For 2020, ULK Group plans to build a new complex for the production of lumber and pellets (wood fuel pellets). The implementation of this project is planned, including with the participation of Otkritie Bank.

Viktor Nikolaev, member of the Board of Otkritie Bank: “For Otkritie Bank, the priority is to Finance high-tech investment projects aimed at developing the export potential of the Russian Federation.”

Otkritie financial group and ULK Group of companies also agreed on mutually beneficial cooperation both in the product line of the Bank and in the products of other companies of the financial group.

Otkritie Bank is included in the list of systemically important credit institutions approved by the Bank of Russia.

According to the press service of Otkritie Bank