Belarus in talks with China Development Bank over $1bn credit for Grodno Azot’s upgrade

21.12.2017 09:16 / Belarus / China

MINSK – Belarus is currently conducting talks with China Development Bank over the prospects of drawing a $1 billion credit for a project upgrade project at Grodno Azot.

Deputy Prime Minister of Belarus Vladimir Semashko made a statement to this effect in a speech in Belarus’ parliament on December 20.

Belarus’ government has been supporting Grodno Azot by letting buy natural gas at a lower price - $170 per 1,000 cubic metres. In 2018 and later the gas price for Grodno Azot will stand at $150, so that the company could invest more in production development, said Semashko.

As a result of the upgrade, Grodno Azot will double its production capacity and will use a new technology, which will help reduce product costs by 10-15%.

Grodno Azot was set up in 1963 and transformed into an open joint-stock company in 2002. The Belarusian government holds a 99.97% stake.

Grodno Azot is Belarus’ main producer of liquid ammonia, nitrogen fertilizers, methanol, caprolactam, biodiesel fuel.

OAO Grodno Azot’s ammonia capacity stands at 976,800 tonne per year, carbamide – 945,000 tonnes, nitrosol – 720,000 tonnes, ammonium sulphate – 319,000 tonnes, technical methanol – 80,000 tonnes, caprolactam – 121,200 tonnes, carbonic acid – 24,000 tonnes, biofuel – 24,000 tonnes.

Source: PrimePress
Back

Read also

07.07.2020 11:45
The contract provides for the delivery of 30 trolleybus kits of 321 model and 5 articulated trolleybus kits of 43303 model
06.07.2020 10:22
According to him, Russia is the major focus of Belarus' agricultural exporters. “We have common approaches to packaging, common taste preferences. We will be working to maintain our foothold on that m...
02.07.2020 13:46
The number of online stores in Belarus has increased by 6.5% since the beginning of the year, said Inna Gavrilchik, head of the department for consumer protection and advertising control at the Minist...