AK Bars Bank issued bank guarantees to Titan-Polymer under two loan agreements concluded with the Industrial Development Fund. The amount of guarantee support exceeds 1 billion rubles.
Titan-Polymer is implementing an investment project on the creation of a PET granules and BoPET film production complex in Moglino, a special economic zone in the Pskov region. With the funds received, the company plans to purchase two BOPET film production lines with a capacity of up to 72 thousand tons per year. Upon reaching full capacity, Titan-Polymer intends to take half of the Russian market for BoPET films, as well as start exporting products to Europe and the CIS. This type of film is used for packaging and storage of aliments and non-food products, manufacturing of x-ray film and insulation of electrical wires, etc.
“Attracting financing with bank guarantees contributes to more intensive project implementation, reducing the time it will take to promote a reliable and high-quality supplier of BoPET film,” comments Mikhail Sutyaginsky, Chairman of the Board of Directors of Titan-Polymer.
Based on the information received from AK Bars Bank