Tatgazinvest, OAO Ammonia in Japanese tie-up

04 December 2007 10:14  [Source: ICIS news]

MOSCOW (ICIS news)--Russia's ZAO Tatgazinvest and OAO Ammonia have signed a framework agreement with Japan’s Sojitz Corporation  and Mitsubishi Heavy Industries to build new ammonia, urea and methanol facilities in the Russian republic of Tatarstan, Tatgazinvest said in a statement.

 

No financial details were disclosed.

 

The planned production units would produce 720,000 tonnes/year of ammonia, more than 700,000 tonnes/year of granulated urea, 380,000 tonnes/year of ammonium nitrate (AN) and 230,000 tonnes/year of methanol, said Tatgazinvest CEO Renat Khanbikov.

 

The project would be financed by the Eurasian Development Bank, which is jointly owned by the governments of Russia and Kazakhstan, according to the statement.

 

Tatgazinvest, a regional gas supply operator of Russian giant Gazprom, would supply natural gas to the new facilities.

By: Sergei Blagov
+44 20 8652 3214

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