LONDON (ICIS)--Czech company Chemoproject Nitrogen said on Friday it has the green light to push ahead with a €75m turnkey project to modernise the urea plant of Romanian fertilizer producer Azomures.
The go-ahead came after Azomures agreed a €66m 12-year financing contract with Czech bank Ceska sporitelna to cover most of the cost of the project, it added.
By the third quarter of next year, Chemoprojekt would modernise the site's urea melt plant, replace the granulation tower with a low-emission model, and improve the wastewater treatment unit to meet environmental requirements, it added.
Azomures figures show it produces around 1.2m tonnes/year of solid and liquid fertilizers - including urea, ammonium nitrate (AN), calcium ammonium nitrate (CAN) and nitrogen phosphorous potassium (NPK) fertilizers – of which around two-thirds is exported.
Swiss grain and fertilizer trader Ameropa Holding has a 96.4% stake in Azomures.