EuroChem gets a credit to build the new ammonia and carbamide plant
EuroChem and a consortium of Russian banks have signed a set of loan and collateral documents for the construction of the new ammonia and carbamide plant.
The syndicated loan, organized by VEB and Sber, will be about 100 billion rubles (approximately $1.37 billion), excluding the optional tranche of VEB to cover interest and increase the project budget with a total amount of about 123 billion rubles (approximately $1.69 billion). The first loan funds of 27 billion rubles (about $371 million) will be sent shortly.
The capacity of the future enterprise will be 1.1 million tons of ammonia and 1.4 million tons of carbamide per year with the scheduled commissioning in 2024.