Eurochem, Tecnimont sign agreement for $225 mln for construction of ammonia plant in Kingisepp
ST. PETERSBURG. June 18 (Interfax) - Agrichemicals firm Eurochem , Italy's Maire Tecnimont and Velesstroy signed an agreement for more than $225 million for the construction of an ammonia plant in the Leningrad region, an Interfax correspondent reported from the signing ceremony.
Tecnimont is acting as the general designer and contractor of the project, Velesstroy will carry out the construction of the main facilities of the new plant.
The total volume of investments in the project, which envisages the construction of an ammonia plant with a capacity of up to 1 million tonnes a year, will amount to about $1 billion.
The start of production at the new enterprise is planned in 2018.
Eurochem has plans to implement four large investment projects with Maire Tecnimont.