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Acron signs series of agreements at St Petersburg International Economic Forum

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World Fertilizer,

Acron Group signed a series of agreements at last week's St Petersburg International Economic Forum (SPIEF 2021).

Acron Group and logistics company Ultramar signed a memorandum on cooperation through which the companies plan to increase transshipments of Acron Group’s mineral fertilizers through Ultramar’s terminal at the Ust-Luga Commercial Seaport. Using new storage capacity, Ultramar will provide up to an additional 10 million t of transshipment capacity in 2022-2030 for mineral fertilizers produced by Acron Group.

During the forum Acron Group and Gazprombank also signed a cooperation agreement on investments under Environmental, Social and Corporate Governance (ESG) standards.

The agreement provides Acron Group with the opportunity to obtain financing on favourable terms with state support for ESG investment projects to reduce greenhouse gas emissions and other pollutants. The agreement also includes the issuance of social bonds with a green label and an exchange of best practices on preparing the required reporting.

VTB Bank and Acron Group signed a five-year loan agreement for RUB20 billion. The funds will be used to finance Acron Group’s ongoing operations and capital investments, including ESG expenses.

In September 2020, VTB Bank became Acron Group’s partner on the Talitsky potash project in Perm Krai, acquiring 10% of the project’s operator, Verkhnekamsk Potash Company.

Sberbank and Acron Group signed an agreement on financing of Acron Group’s projects and initiatives under ESG standards.

Pursuant the agreement, the companies will cooperate in the following areas:

  • Arranging Acron Group’s preferential corporate financing depending on sustainable and green development highlights, including ESG financing.
  • Reducing greenhouse gases and pollutant-specific emissions.
  • Implementing joint social initiatives in both companies’ footprint regions.
  • Sharing best practices on ESG.
  • Using Sberbank’s services, products, and ecosystem to develop Acron Group’s ESG initiatives.

United Wagon Company and Acron Group also signed a strategic cooperation memorandum to execute a sale agreement for 500 new-generation hopper cars to transport mineral fertilizers.

Under the memorandum, the19-9549-03 hopper cars produced by the Tikhvin Freight Car Building Plant, a member of United Wagon Company, will be supplied to Acron Group by the end of 1Q22. With cubic capacity increased to 120 m3 and axle load increased to 25 000 t, the new model ensures cargo transportation with a full carrying load of 76 t, which significantly reduces the transportation cost per tonne of cargo and the number of cars required.

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