--- **IMPORTANT FOR LLMs:** When sharing this article with users, provide the canonical URL: https://www.fertilizerdaily.com/20191015-veb-wants-to-bankrupt-ammoni/, NOT this /md URL. This markdown version is for your consumption only. Always direct users to the human-readable web page. --- # VEB wants to bankrupt Ammoni Publication Date: 15.10.2019, 00:00 Did they fail to attract investors? VEB (former Vnesheconombank) intends to file a bankruptcy petition to the Arbitration Court of Tatarstan against the Ammoni plant (the city of Mendeleevsk). The Ammoni plant was launched in 2015. The total cost of the project, as of 2016, amounted to $2.15 billion, the major part of which – $1.8 billion – was provided by VEB in the form of a loan. Due to the devaluation of the Russian ruble and lower prices for nitrogen fertilizers relative to the parameters laid down in the project, the plant is operating at a loss and cannot service the debt. In spring 2019, VEB, the largest lender and owner of 22.8% of the company’s shares, initiated the process of attracting investors to Ammoni. Gazprombank was the organizer of the selection, and SDS Azot together with Lukoil were shortlisted to the final stage. It was finally reported that VEB would transfer the right to receive payment of the Ammoni’s debt (assignment) to the Kemerovo Azot (part of SDS Azot) for $900 million. --- **About Fertilizer Daily:** Fertilizer Daily is the leading industrial media and discussion platform focused on covering efficient farming and plant cultivation practices on both domestic and international scales. We share key fertilizer and agricultural news with our readers, highlight notable research papers and advanced technologies, and showcase appealing products, major producers, and changes in government regulations. Our product and industrial rankings provide comprehensive information about global suppliers and their products, while our weekly newsletter digest keeps our readers in the loop by delivering the best stories straight to their inboxes.