The world-scale methanol plant will be located near the major Russian seaport Nakhodka in the Primorsky region with an intent to export its products to the Asia-Pacific Region.
Major Project Status is the Australian Government's formal recognition of the national strategic significance of a project, through its contribution to economic growth, employment, or contribution to regional Australia.
The MoU was signed on the sidelines of the ongoing African Green Revolution Forum in Accra, Republic of Ghana.
The project includes development of the company's KL262 property and a proposed 3.25 million tpy solution potash mining operation in Saskatchewan, Canada.
Final geochemical assays are expected in coming weeks, which will allow an updated geological model and JORC Mineral Resource Estimate to be completed prior to the end of October 2019.
Upon receipt of funding and completion of detailed engineering, the company will be in a position to begin construction in 2020.
The facility’s 1 million tpy ammonia production capacity is the largest in Europe.
A report by the company has concluded that India is on course to have capacity additions of 9.27 million tpy by 2030.
Perdaman Chemicals and Fertilisers has signed a licensing and engineering contract for Haldor Topsoe’s SynCOR Ammonia solution for its AUS$4 billion ammonia/urea plant in Karratha, Western Australia.
The company has received letters of intent from KfW IPEX-Bank of Germany and Export Development Canada with regards to one of its small-scale production facilities in central Saskatchewan, Canada.
Al-Nasr Fertilizers Co., and Benchmark Power International are to establish an ammonia production plant in the Suez Governorate.
The company intends to revisit the market when conditions have improved later this quarter.
The credit approval has been obtained from the Africa Finance Corp. and the African Export Import Bank.
The pre-FEED (front-end engineering and design) study is the next step in the development of a chemical and fertilizer facility near Narrabri, New South Wales, Australia, which will use appraisal and early development gas.
The US$1 billion facility in Kingisepp, Russia, was formally opened at the St. Petersburg International Economic Forum in June.