Ammoni escaped bankruptcy again

Ammoni plant (city of Mendeleevsk, Tatarstan republic), which could face bankruptcy at the lawsuit filed by Zoltwasser company, managed to avoid it.

Zoltwasser company filed a claim to Tatarstan Commercial Court for the bankruptcy of Ammoni in August this year. The company intended to recover from Ammoni 10.549 million rubles (approximately $132,9 thousand).

During the trial, Zoltwasser announced the abandonment of the claim against Ammoni.

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). In July 2020, Ammoni and VEB signed an amicable agreement.

Ammoni can annually produce 717,5 thousand tons of ammonia, a similar amount of carbamide, and 338 thousand tons of ammonia nitrate.