OREANDA-NEWS. On March 19, in the course of Russian Prime Minister Mikhail Fradkov’s visit to the Republic of South Africa, Agro-Chemical Corporation Azot, Chancellor House Holdings (Pty) LTD (the Republic of South Africa) and Vnesheconombank signed a Memorandum of Mutual Understanding.

The Memorandum was signed to carry out the project aimed at building a Russian - South African joint venture to manufacture mineral fertilizers.

Under the Memorandum Vnesheconombank will provide a wide range of financial and consulting services to the parties to the Memorandum and will assist in attracting financial resources to carry out joint projects.

Payments between the parties are to be made through Vnesheconombank.