VEB plans to invest $800m in OAO Ammonia project
06 July 2007 10:48 [Source: ICIS news]
MOSCOW (ICIS news)--Russia's state-controlled Vnesheconombank (VEB) said on Friday it plans to acquire a stake in the country’s OAO Ammonia and invest $800m in the construction of its new ammonia, urea and methanol facilities.
The new facilities in Mendeleyevsk would have a total capacity of about 1.5m tonnes/year, the bank said, adding Japan's Mitsubishi Heavy Industries would supply equipment for the project.
The acquisition would allow VEB to become a strategic investor in OAO Ammonia, while the size of the stake to be acquired remained to be negotiated, the bank said. The Russian internal
By: Sergei Blagov
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