EkoNiva to continue cooperation with Rosselkhozbank

15 December 2021

EkoNiva, Russia’s largest producer of raw milk and a subsidiary of German Ekozem-Agrar, will further receive funding from its major creditor Rosselkhozbank. The bank will extend a credit line for EkoNiva to complete the construction of its three dairy farms with a total annual production capacity of 100,000 tonnes of raw milk in the Moscow region and the Republics of Tatarstan and Bashkortostan. Also, EkoNiva will continue negotiating with Rosselkhozbank the opportunities for funding the construction of its dairy plant with designed daily processing capacity of 1,150 tonnes of milk in the Novosibirsk region.

Earlier this year, EkoNiva has contested the right of Rosselkhozbank to buy out its dairy business at nominal value in case of overdue financial indebtedness, but the court has rejected the company’s claim. As reported by Rosselkhozbank, EkoNiva has no overdue debts to the bank at the moment. Accordingly, Rosselkhozbank does not plan to buy out the shares of EkoNiva and will continue financing the company’s operations. 

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