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Chemical Week Magazine :: New Construction Projects

PhosAgro secures loan to fund ammonia plant in Russia

5:54 AM MST | January 24, 2014

PhosAgro (Moscow) says its subsidiary PhosAgro Cherepovets has signed a $440.6-million loan agreement with Japanese banks to fund construction of a previously announced ammonia plant at Cherepovets, Russia. The loan from the Japan Bank for International Cooperation (JBIC) and a group of banks consisting of Bank of Tokyo-Mitsubishi (BTMU), Citibank Japan, and Mizuho Bank is backed by a guarantee from Nippon Export and Investment Insurance. JBIC will provide $264.4 million with a tenure of 13 years; and BTMU, Citibank Japan, and Mizuho Bank will together lend...

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