Shchekinoazot and Gazprombank have entered into an agreement on indicative conditions for financing the construction project for an ammonia and urea plant. The project budget is set at $550 million, the company’s press service reports.
The agreement was made at the Russian Investment Forum in Sochi. The document was signed by Andrey Tokarev, Deputy General Director for Financial Resources of Shchekinoazot OJSC, and Alexey Belous, Deputy Chairman of the Management Board of GPB.
“We see a great potential in the development of the gas chemical industry and are aimed at facilitating the formation in the manufacturing industry of competitive and highly efficient production facilities implemented by the Shchekinoazot company,” commented A. Belous.
The capacity of the new production will be 525 thousand tons of ammonia and 700 thousand tons of urea per year. The planned financing period is no more than 10 years. Within the framework of the credit line, separate tranches will be allocated in accordance with individual targeted use.
Commenting on the development strategy of the company, A. Tokarev noted that over the past 13 years “16 investment projects were implemented, many of which were carried out in parallel, the amount of investment exceeded $882 million. In 2018, the M-450 / ammonia A-135 methanol installation was included sulfuric acid CK-200, dimethyl ether of perfumery quality, sewage treatment plants “.
At the moment, the company’s specialists are conducting a preliminary design, technical and commercial study of the ammonia-urea project. In addition, a strategy is being worked out for entering the mineral fertilizer market. The new production complex can be placed within the boundaries of the Efremov branch of Shchekinoazot. The ways of providing the future complex with the necessary infrastructure are being considered.
At the main site of the company in 2018, a group of specialists was gathered who are working on a small urea and ammonia plant.
Shchekinoazot is also implementing a project to launch nitric acid and ammonium nitrate units with a capacity of 270 and 340 thousand tons, respectively. Production is supposed to be arranged on the Shchekinoazot facilities. Ammonia will be supplied from the A/M complex, which was commissioned in September 2018.
Another project in the company’s investment program is the production of methanol at 500 thousand tons per year. The start of the project was officially announced in September. In October, the documentation was received a positive opinion of the Federal Government Expert Office.
Shchekinoazot is a major producer of industrial chemicals: methanol, caprolactam, urotropine, ammonium sulfate, ion-exchange membranes, and household chemicals.
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