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14.04.2015

EXIAR insures shipments of metal products

The Russian Agency for Export Credit and Investment Insurance (EXIAR) and EVRAZ Nizhny Tagil Metallurgical Plant (EVRAZ NTMK) have signed a one-year comprehensive export credit insurance contract.

The agreement will cover insurance of shipments of Russian metal products to the Republic of Belarus, with the option to expand the insured portfolio at a later date.

Comprehensive export credit insurance protects Russian companies against the risk of non-payment by foreign buyers due to commercial or political reasons. Insurance overage extends to recurrent shipments of similar goods to customers based abroad, in which payment has been deferred by up to 45 days.

EVRAZ NTMK is one of the largest steel production plants in Russia offering a complete processing cycle.
Today, it consists of coke-chemical production facilities, blast furnaces, steelmaking facilities, rolling mills and oxygen shops.

The enterprise produces rolled metal products for the construction and transport industries. The plant also supplies semi-finished products for pipe-rolling, as well as structural rolled metal products for machine-building.

The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in 2011 as an open joint-stock company. EXIAR's mission is to support Russian high-tech exports by insuring export credits against commercial and political risks, as well as Russian investments abroad against political risks. Vnesheconombank is the sole shareholder of EXIAR. The agency's charter capital is RUB 31 billion. Since November 2014 Eximbank of Russia, a Russian specialized government–owned export–import bank, has been a subsidiary of Russian Agency for Export Credit and Investment Insurance (EXIAR).

External Communications EXIAR