EuroChem Group AG, a leading global fertilizer company, announces a new RUB 6 billion ($94 million) export loan facility with Roseximbank to support exports of ammonia from its new plant, EuroChem Northwest, in Kingisepp, Russia, the company informed.
The loan agreement with EuroChem Trading GmbH (Switzerland) provides financing support for liquid ammonia exports from Kingisepp to customers worldwide for up to two years. Roseximbank, which provides financial and guarantee support to assist companies in Russia with financing export operations, is implementing the financing in conjunction with the Ministry of Industry and Trade of the Russian Federation.
EuroChem opened the ammonia production facility in Kingisepp in June 2019. The plant, which has an annual capacity of 1 million tonnes, operates within the first quartile of the global trade ammonia cash cost curve and is one of the most efficient in the world in terms of natural gas consumption.
EuroChem is one of the world's leading producers of nitrogen, phosphorous and potash fertilizers. The vertically-integrated group's activities include mining, production, logistics and distribution of fertilizers. Headquartered in Zug, Switzerland, the company operates production facilities in Europe, Asia and CIS countries. The company's headcount exceeds 26,000 people.
IFRS net profit of EuroChem for H1 2019 increased by 3% to $612 million from $210 million a year earlier. Revenue increased by 14% to $3.046 billion from $2.671 billion, EBITDA by 21% to $819 million from $677 million.
Headquartered in Moscow, Roseximbank specializes in facilitating access of Russian exporting companies to financial resources and contributing to the growth of non-commodity (non-resource) exports from Russia. Roseximbank operates as part of Russian Export Center Group.
"AK&M", 12.02.2020 17:49