NOMOS-BANK finances the construction of the first plant in Mariy El for the production of frozen bread and bakery goods

NOMOS-BANK has extended finance to LLC “Rus-Bakery” for the construction of the first plant in the Republic of Mariy El for the production of frozen bread and bakery goods.

The design output of the plant, which was inaugurated on 4^th July, is 40 tons daily. The bakery will produce over 30 items.

The project’s investment budget is 324 million Roubles. NOMOS-BANK became a financial partner of LLC “Rus-Bakery” providing it with 230 million Roubles in project finance with a five-year maturity. These funds were used for engineering preparation of the land plot allocated for the construction of the plant and for the acquisition, including through leasing schemes, of basic technological equipment for the production of bread and bakery items (ranging from warehouse equipment, fermentation cabinets, baguette preparation machines and lines for forming small items to ovens and refrigeration equipment.

The project carried out by “Rus-Bakery” represents an excellent combination of several key factors, — notes Sergey Bessonov, Director of NOMOS-Bank’s Structured and Project Finance Department. — They include the well-chosen site’s location in the immediate vicinity of both raw materials suppliers (in particular, Yoshkar-Ola bakery foods plant) and potential consumers — large cities in Volga and Central federal districts; use of advanced European technologies; and a professional management team. Excellent preparation of project-related decisions allowed the Bank to expeditiously evaluate main parameters and risks and to take a positive decision on the provision of finance.

In turn, “Rus-Bakery” Chairman of the Board of Directors Dmitriy Seregin stated that “the implementation of this project within such a short timeframe was made possible thanks to the active support by the President of the Republic of Mariy El Leonid Markelov and the Government of the Republic, as well as to the quick provision of finance by NOMOS-BANK, one of the largest commercial banks in Russia”.