Memorandum of intentions on civil-engineering project of a complex on producing ammonia, methanol and granulated carbamide (Mendeleevsk, Tatarstan) signed

The memorandum of intentions has been signed by the “Bank of development and foreign trade activities” (Foreign trade and investment bank), Investment-venture fund of Republic Tatarstan, JSC "Ammoni" and the companies « Mitsubishi heavy industries » and « Sojiz Corporation » (Japan) on May 12, in Tokyo (Japan).

The document deals with realization of the civil-engineering project of the new integrated complex on manufacturing ammonia, methanol and granulated carbamide in Mendeleevsk (Republic Tatarstan).

The project is being implemented by JSC “Ammoni " on a platform of the plant on production of mineral fertilizers of JSC " Mendeleevskazot ".

The signatures under the Memorandum of intentions were put by vice-president of the Foreign trade and investment bank Anatoly Ballo, general director of JSC " Ammoni " Rady Vahitov, RT Prime Minister - chairman of board of guardians of RT Investment venture fund Rustam Minnikhanov, representatives of management of the companies « Mitsubishi Heavy Industries » (Mitsubishi Heavy Industries) and « Sojitz Corporation".

As Aide to Prime Minister of Tatarstan on foreign trade activities Iskander Muflikhanov informed, upon end of procedure of signing RT Prime Minister Rustam Minnikhanov gave an interview to a TV « Russia Today ».

We remind, that in December, 2008, within the limits of working visit of delegation of Tatarstan to Japan, the issues of cooperation on construction of the new integrated complex on manufacturing of ammonia, methanol and granulated carbamide in Mendeleevsk also had been discussed.

(More in detail about December visit - <http://prav.tatar.ru/rus/index.htm/news/25008.htm>)

For information:

Supervisory council VEB under presidency of chairman of the Government of Russia Vladimir Putin on September, 15th, 2008 approved granting up to $350 million to civil-engineering project of a complex on production of ammonia, methanole and granulated carbamide in Mendeleevsk (Republic Tatarstan).
The total cost of the project is estimated in $972,7 million
The project is being realized by JSC " Ammoni " on a platform of plant on manufacturing mineral fertilizers of JSC " Mendeleevskazot ".
Annually the complex on manufacturing ammonia, methanole and granulated carbamide in Mendeleevsk will release 717 thousand tons ammonia, 230 thousand t. methanole, 717 thousand tons of carbamide and 380 thousand tons of ammoniac saltpeter.
Time of recovery of outlay of the project - six-seven years.
The licensor of the project - Haldor Topsoe (Denmark), the contractor on construction - Mitsubishi Heavy Industries (Japan).
The coordinator of the project has been chosen Japanese Sojitz Corporation, the supplier of gas for maintenance of manufacture with raw material - Joint-Stock Company " Tatgazinvest " (the regional operator of " Gazprom " on realization of gas).
It is supposed to involve Japanese Sumitomo Mitsui Banking Corporation - SMBC) in financing the project.