Ammoni and VEB signed the settlement agreement
Tatarstan Commercial Court has approved an amicable agreement between Vnesheconombank (VEB) and Ammoni plant (city of Mendeleevsk) in the framework of the case of Ammoni bankruptcy.
At the end of last year, Tatarstan Commercial Court following the declaration of Vnesheconombank (VEB) has initiated Ammoni bankruptcy proceedings (supervision). Then VEB, as a key creditor and one of the shareholders of the enterprise, began to look for potential investors interested in Ammoni plant. Eventually, VEB sold the receivables for the construction of the Ammoni plant for $900 million to Kemerovo Azot (part of SDS Azot).
Ammoni can annually produce 717,5 thousand tons of ammonia, a similar amount of carbamide and 338 thousand tons of ammonia nitrate.