SME Bank lends 48.7 million rubles to tyre pyrolysis firm Intech Eco
The Russian SME Bank has lent 48.7 million rubles (£497,000; 541,582 euros; US$633,100) to Intech Eco LLC, a tyre pyrolysis plant based in the Novokuznetsk industrial park, at the start of September 2020. According to local news reports the loan is for the purpose of building a large tyre disposal facility. Financing will be provided for five years under a program of Russia’s Ministry of Economic Development (according to the Russian Government’s Decree No. 1764 dated 30 December 2018). The loan is said to be secured by a guarantee from Russian Small and Medium Business Corporation (RSMB Corporation), covering up to 50 per cent of the loan amount.