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.

Annual processing capacity is predicted to be 5,000 tonnes of large and giant tyres. 90 per cent of this will be recycled via rubber pyrolysis technology. This means the company plans to produce up to 2,300 tonnes of pyrolyzed fuel, 1,200 tonnes of carbon black, 1,000 tonnes of metal cord a year.

JSC Russian Bank for Small and Medium Enterprises Support (JSC SME Bank, previously Rossiyskiy Bank Razvitiya) was founded in 1999. 100 per cent of the bank’s shares belong to RSMB Corporation.