EuroChem agrees $94 million export loan facility with Roseximbank
Zug, Switzerland, February 11, 2020 – EuroChem Group AG, a leading global fertilizer company, announces a new 6 billion rubles ($94 million) export loan facility with Roseximbank to support exports of ammonia from its new plant, EuroChem Northwest, in Kingisepp, Russia.
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.
Kuzma Marchuk, EuroChem’s Chief Financial Officer, commented: “The launch of EuroChem Northwest was an important strategic goal, making us fully self-sufficient in ammonia. The project would not have been possible without the support of partner banks. We are delighted to expand our cooperation with the financial institutions and the agreement with Roseximbank will ensure uninterrupted exports of ammonia from Kingisepp to our customers around the world.”
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.
About EuroChem Group AG
EuroChem is a leading global producer of nitrogen, phosphate and potash fertilizers,
as well as certain industrial and mining products. The Group is vertically integrated with activities spanning mining to fertilizer production, logistics, and distribution. EuroChem began test production at its Usolskiy potash mine in early 2018, and continues to develop a second greenfield site at VolgaKaliy in Russia. Headquartered in Zug, Switzerland, the Group operates production facilities in Europe, Asia and the CIS, employing more than 26,000 people.
Head of Communications
EuroChem Group AG
Head of Public Relations
Head of Investor Relations
EuroChem Group AG