Today o July 5, Vnesheconombank and OJSC Ammonii signed a Protocol of Intentions.
The Protocol was signed by Vnesheconombank Chairman OJSC Ammonii General Director Nikolay Reshetnikov.
The Protocol aims to arrange for cooperation and work out mechanisms for investing, funding and servicing the investment project “The Construction of an Integrated Plant to Manufacture Ammonia, Methanol, and Carbamide at OJSC Ammonii facility in the city Mendeleevsk with a total capacity of 1,434 thousand tons. The Project’s value is estimated at 800 million US dollars. Japanese company Mitsubisi Heavy Industries was approved as a contractor to supply packaged equipment.
Under the Protocol the two sides will regard each other as top-priority partners in carrying out this project.
Vnesheconombank is also going to act as a strategic investor through acquiring a stake of Ammonii, the amount of which will be determined by a separate agreement between the two sides.
The Protocol provides for the Government of Tatarstan to give OJSC Ammonii state and financial support with due regard to the project’s pay-off periods and to prepare required proposals to the Federal executive authorities for providing support upon carrying out this project. Under the Protocol the Government will also finance a state order for the Republic of Tatarstan to purchase ammonium nitrate and will ensure its participation in OJSC Ammonii authorized capital at 10% of authorized capital.
The Protocol was signed to build on Agreement signed the same day on establishing strategic partnership and promoting long-term cooperation with the Republic of Tatarstan.
Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 208-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru
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