Afreximbank signs US$350 million loan facility for OCP Group
The facility will support OCP Group’s expansion plans across Africa.
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The facility will support OCP Group’s expansion plans across Africa.
The March issue of World Fertilizer is now available to read online! The issue includes a regional report on Africa’s fertilizer industry, as well as technical articles that cover phosphate processing, wastewater treatment, pumps, digitalisation, particle characterisation, vertical plate technology and corrosion inhibition.
The complex for the production of ammonia, with a capacity of 525 000 tpy, and urea, with a capacity of 700 000 tpy, is to be located at the site of JSC Shchekinoazot, in the Tula region of Russia.
The duties will be imposed following a decision by the United States International Trade Commission that the US phosphate industry has been materially injured by imports of phosphate fertilizers from Morocco and Russia.
The investment will be used to increase urea production and enhance the reliability of existing production units as well as improve rail infrastructure and ammonia truck loading facilities.
The company’s Chief Financial Officer, Andrey Maruta, has informed the Board of his intention to leave Kore Potash in order to accept a position at another company.
The potash fertilizer supplier said its 2021 guidance included an expected one-off gain from the contribution of assets to the REKS joint venture of around €200 million, which is set to be generated on closing of the transaction in the summer.
The drilling programme has confirmed the presence of an extensive palaeovalley system up to 5 km wide and 100 m deep, with evidence of multiple aquifers at varying depths.
Kao Chemicals fertilizer additives are specially formulated for all types of fertilizers, such as AN, CAN, MAP, DAP, TSP, AS, NPK blends, Urea, UAN and MOP.
Under the terms of the agreement, Uralkali will become the title sponsor of the team, which will change its name to Uralkali Haas F1 Team.
Sequoia and the Commonwealth Bank of Australia will invest US$39 million and US$25 million respectively into the facility, complimenting existing investments led and arranged by Taurus Mining Finance Fund No. 2 L.P (Taurus) and the Australian Government’s Clean Energy Finance Corp. (CEFC).
It is expected that project construction of the plant in Akwa Ibom state will commence no later than 3Q21. In the first phase of the project, US$1.4 billion will be invested in building out the plant and its supporting infrastructure with a target operations-commencement date of 2025.