Nomos-Bank Invests over €35mn in Brick Production in Kaliningrad Region

Russia’s Nomos-Bank has granted €35.6mn for six years to the 5th Element company to finance the construction of a ceramic brick plant in Krasnoznamensk, Kaliningrad Region.

The project’s total budget amounts to €42.6mn. The plant’s annual capacity will be 60mn bricks.

Nomos-Bank is one of the leading universal private banks in Russia listed with the top ten privately owned financial institutions by asset size. Nomos is a strong player in securities, corporate lending and precious metals markets.

The 5th Element supplies raw materials for the production of building materials in Kaliningrad. In 2008, the company decided to diversify its business and build a ceramic brick plant in the Kaliningrad Region, Russia’s westernmost exclave on the Baltic coast.