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On Holding Talks over Implementing the Nitrogen Fertilizer Manufacturing Complex Construction Project in Mendeleevsk (the Republic of Tatarstan)

15 december 2008 года
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Management Board Member – Deputy Chairman of State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ Anatoly Ballo participated on December 11-12, 2008 in Tokyo in talks with representatives of the Government of the Republic of Tatarstan and Mitsubishi Heavy Industries Ltd, Sojits Corporation Ltd and OJSC Ammonii over implementing the nitrogen fertilizer manufacturing complex construction project in Mendeleevsk (the Republic of Tatarstan).

In the course of talks between Japanese Mitsubishi Heavy Industries Ltd, Sojits Corporation Ltd and OJSC Ammonii a document was signed, which specifies basic provisions and terms of contracts scheduled to be signed in April 2009.

The Minutes of the meeting were also written up, in which the parties reaffirmed their intention to get the said contracts to come into force and agreed upon further action needed to implement the project. The Minutes were signed by Prime Minister of the Republic of Tatarstan Rustam Minnikhanov, Management Board Member - Vnesheconombank Deputy Chairman Anatoly Ballo, Mitsubishi Heavy Industries Ltd Director and Executive Vice-President Shunichi Miyanaga and OJSC Ammonii Board Director Renat Khanbikov.

The implementation of the project provides for building a new integrated complex to manufacture ammonia, methanol, granulated carbamide and ammonium nitrate with a capacity of 2050 ton-days of ammonia and 668 ton-days of methanol at the site of mineral fertilizer manufacturing plant “MendeleevskazotLLC”.  The total value of the project is more than 1 billion US dollars, Vnesheconombank’s participation share is up to 870 billion US dollars. Vnesheconombank’s Supervisory Board approved the Bank’s participation in financing this project. The project is being implemented by OJSC Ammonii.  Besides Vnesheconombank, state non-profit organization Investment and Venture Fund of the Republic of Tatarstan acts as an investor. The organization was established by the Government of the Republic of Tatarstan with the aim of carrying out the republican program of developing innovative activity.

 

Origin: Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru


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