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PJSC "KuibyshevAzot" and Maire Tecnimont announced the creation of a joint venture for the production of urea
PJSC "KuibyshevAzot" and MET Development S. p.A announce the creation of a joint venture (JV) with the purpose of development, construction, financing, maintenance and operation of the new production of granulated urea
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PJSC "KuibyshevAzot", one of the leading enterprises of Russian chemical industry and MET Development S. p.A project division of the company Maire Tecnimont S. p.A. (Italy), announces the establishment of a joint venture (JV) with the purpose of development, construction, financing, maintenance and operation of the new production of granulated urea, which will be located in Tolyatti, Samara oblast, Russian Federation. The share of both parties is distributed as follows: PJSC "KuibyshevAzot" - 68% MET Development -32%. The total amount of investments into the project estimated at around 160 million euros. (10.9 billion rubles). The contribution of Maire Tecnimont capital project, taking into account the ratio of borrowed and own capital as well as expected contributions from third parties, is estimated at 11 million euros.

The production capacity will be 525 thousand tons per year (1500 t/day) urea. The project uses modern technology of basin reactor Urea 2000Plus®, the licensor of the technology of granulation in the fluidized bed is the company Stamicarbon, part of Maire Tecnimont group.

The new production will be created at the site of JSC KuibyshevAzot in Togliatti, Samara region. The parties have already begun development of the basic engineering and design documentation under the guidance of Tecnimont S. p.A (“Tecnimont”), in cooperation with Stamicarbon B. V. and JSC "NIIK" as a design Institute. Stamicarbon, founded in 1947, is one of the recognized leaders in the development and licensing of technology for production of urea. In the world built more than 240 factories for the production of urea use Stamicarbon technology.

The project uses an advanced technology providing an environmentally friendly and safe production, the level of resource consumption that corresponds to the best world analogues.

At the same time the parties shall closely cooperate in the activities on the structuring of the project to increase financing without recourse. Partners expect the project financing from foreign banks under the guarantees of export insurance Agency Sace (Italy), included in the CDP Group.

After the completion of the design and execution of financial aspects that is expected in the 2nd quarter of 2018, the joint venture will contract with Tecnimont (Maire Tecnimont division) for the design and construction of "turnkey".

The agreement on creating a joint venture is another example of a successful development strategy of PJSC "KuibyshevAzot" in the creation of joint ventures with leading international companies and the introduction of modern technologies. For Maire Tecnimont SP this is evidence of a strategic and preventive approach Group focused on involvement in the investment projects of our clients at an early stage and accelerate their implementation.

Photo: hectare-agro.com.ua


Translated by service "Yandex.Translation"
Источники: Agro2b
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