Vnesheconombank Participates in Foundation Ceremony
OREANDA-NEWS. October 20, 2008. An official ceremony to lay the first foundation stone of the new integrated nitrogen fertilizer manufacturing complex in the city of Mendeleevsk (the Republic of Tatarstan) was held. The complex is designed for combined production of ammonia, methanol, granulated carbamide and ammonium nitrate. The project is being implemented by OJSC Ammonii.
The complex to be built is the first integrated complex for manufacturing ammonia and methanol on the territory of Russia and CIS and it will make it possible to flexibly regulate the output of finished products depending on market demand. Commissioning of the complex to be built with the use of the world’s state of the art technologies would make the Russian nitrogen fertilizer manufacturing sector a lot more competitive and allow to provide Russian agricultural producers with top quality nitrogen fertilizers and , above all, with granulated carbamide – the most effective and competitive nitrogen fertilizer.
Commissioning of the complex would create more than 250 jobs.
The implementation of the project would make it possible to boost the efficiency of using hydrocarbon raw materials up to a maximum technologically feasible level. Modern integrated manufacturing of ammonia and methanol would eliminate carbon dioxide atmospheric emissions and minimize potential environmental effect.
Besides Vnesheconombank, a state-run non-profit company the Investment Venture Fund of the Republic of Tatarstan acts as the project’s investor. The Government of the Republic of Tatarstan established the Fund to implement the innovation development program.