Tatarstan's Ammoni to build phase two of ammonia, urea facility for $1 bln
KAZAN. April 1 (Interfax) - JSC Ammoni, a chemical company in Tatarstan, set up the subsidiary Ammoni 2 LLC in late March to act as the operator for the construction of the second phase of an ammonia and urea production facility at a cost of more than $1 billion.
"The new legal entity will work on the implementation of the investment project to build an ammonia and urea production complex. The production complex will be built on the basis of the existing one and involves the construction of new divisions with modern, energy saving equipment to produce ammonia and urea, as well as additional infrastructure," a spokesman for the company told Interfax.
The Ammoni 2.0 project will include an ammonia production facility with capacity of 3,500 tonnes per day or 1.3 million tonnes per year, and a granulated urea facility with capacity of 4,200 tonnes per day or 1.5 million tonnes per year, he said.
Construction of the second phase is scheduled to begin at the end of 2021 or beginning of 2022, and it is expected to go into operation in 2026, the spokesman said.
"A feasibility study of the project is now being done. One can say with confidence that the amount of investment will be more than $1 billion," he said.
Ammoni now has capacity to produce 717,500 tonnes of both ammonia and urea per year, the company's website said.
In June 2020, state bank VEB, Ammoni's main creditor, closed a deal to sell 100% of the company and claim rights to strategic investor Kemerovo Azot, a division of Roman Trotsenko's SDS Azot, for $900 million.
Trotsenko said in November 2019 that investment in Ammoni would total 15 billion rubles over four years. He said he was interested in Ammoni because the company's products continue the product line of Kemerovo Azot and Angarsk Nitrogen Fertilizer Plant, another division of SDS Azot.
