NOMOS-BANK provides EUR35.7 million to Fifth Element

NOMOS-BANK has extended a loan of Euro 35.6 mln to LLC Fifth Element in June. The company will use the funds for the construction in the city of Krasnoznamensk of ceramic brickworks, the largest in Kaliningrad region. Finance term — 6 years.

The plant is designed to manufacture 60 mln pieces of brick a year, which is in line with the average output of modern brickworks.

This is the optimal output from the viewpoint of the project’s payback, believes Dmitriy Kurkov, Head of NOMOS-BANK Project Finance Division. — Another advantage of this project is its good geographic location. The plant will be constructed near the regions that demonstrate increased investment activity, which guarantees stable demand for its products.

The project’s overall budget is Euro 42.6 mln. NOMOS-BANK provides funding in the form of project finance using a combination of different financial products. Along with lending and documentary operations, the Bank used leasing schemes for the acquisition of the basic technological equipment for brick manufacturing, which is made by “Keller”, as well as vehicles for brick transportation, the bank said.