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EuroChem and Roseximbank agree Kingisepp plant export loan facility

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World Fertilizer,

EuroChem Group AG has announced a US$94 million export loan facility with Roseximbank to support exports of ammonia from its new plant, EuroChem Northwest, in Kingisepp, Russia.

The loan agreement with EuroChem Trading GmbH (Switzerland) provides financing support for liquid ammonia exports from Kingisepp to customers worldwide for up to two years. Roseximbank, which provides financial and guarantee support to assist companies in Russia with financing export operations, is implementing the financing in conjunction with the Ministry of Industry and Trade of the Russian Federation.

Kuzma Marchuk, EuroChem’s Chief Financial Officer, commented: “The launch of EuroChem Northwest was an important strategic goal, making us fully self-sufficient in ammonia. The project would not have been possible without the support of partner banks. We are delighted to expand our cooperation with the financial institutions and the agreement with Roseximbank will ensure uninterrupted exports of ammonia from Kingisepp to our customers around the world.”

EuroChem opened the ammonia production facility in Kingisepp in June 2019. The plant has an annual capacity of 1 million t.

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Fertilizer project news Ammonia news