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Ferkensco signs financing agreement for fertilizer production facilities in Uzbekistan

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World Fertilizer,

Ferkensco Management has signed two bilateral cooperation agreements with Gazprombank to finance the construction of a plant to produce complex mineral fertilizers based on ammonia in Yangiyer, Syrdarya region of Uzbekistan, and a chemical complex to produce complex fertilizers in the Samarkand region of Uzbekistan.

The signing ceremonies were held at the Saint Petersburg International Economic Forum.

The ammonia project is already underway with site surveys completed in late 2020. In March 2021, a cooperation agreement was signed with the Khokimiyat (senior local government official) of the Syrdarya region. Negotiations are currently underway with Casale for the technological part (a licence and further development) of the project.

Once complete, the US$350 million plant will produce 495 000 tpy of ammonia. State-of-the-art technology from Europe, China, Russia, and other countries will be installed and 300 permanent jobs created.

The chemical complex project will also introduce modern technology and create additional production capacity to increase yields of highly efficient complex fertilizers. The complex will comprise a chemical complex in the Samarkand region to produce mineral fertilizers, as well as an enrichment plant and phosphorite deposits in the Navoi region.

Once complete, the chemical complex will produce 900 000 tpy of complex mineral fertilizers. The project’s implementation period runs to 2023.

Timur Juraev, Head of Ferkensco in Uzbekistan, said: “We welcome the engagement with a reliable international partner such as Gazprombank to help us to achieve our goals. We are firmly focused on long-term cooperation with international partners, to bring new opportunities that develop Uzbekistan and create jobs. These modern facilities will produce highly efficient, complex mineral fertilizers, help Uzbekistan meet domestic demand, and also enter foreign markets.”

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