EuroChem secured its investments for the new project
The Ministry of Economic Development of Russia, the Government of the Leningrad Region, and EuroChem signed an Investment Protection and Promotion Agreement for the construction of EuroChem Northwest-2.
The future plant should produce a million tons of ammonia and 1.4 million tons of carbamide. Total investments amount to 120 billion rubles (approximately $1.6 billion). The commission of the enterprise is scheduled for 2023.
The Investment Protection Agreement assumes the invariability of federal, regional, local legislation, which will ensure the predictability of the implementation of the investment project for a long period. Taxes from the enterprise will be used to compensate part of the investor’s costs for infrastructure development.