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NFP, VEB.RF and JBIC signed a memorandum of understanding

December 16, 2016

ZAO "Nakhodka Mineral Fertilizer Factory", VEB.RF and the Japan Bank for International Cooperation (JBIC) signed a memorandum of understanding.

The document reflects the intention of the parties to explore the possibilities of cooperation within the framework of the project for the construction of methanol and ammonia production in the Russian Far East.

Earlier, VEB.RF and JBIC signed a cooperation agreement. The document provides for co-financing of projects in the Russian Federation with a focus on the regions of Eastern Siberia and the Far East, as well as foreign trade contracts between Russian and Japanese companies.

Reference

Nakhodka Mineral Fertilizer Plant (NFP) is a large-scale investment project for the construction of methanol and ammonia production capacities in the Russian Far East.

The construction is carried out under the “turnkey” EPC contract with the leading international contractor for the construction of gas chemical plants - China Chengda Engineering Co., Ltd.

The construction of the plant will ensure the creation of more than 1,500 highly qualified jobs in the Nakhodka city district, and after tax holidays and launch of the Phase 2, up to 14.5 billion tax revenues to budgets of all levels annually.