The project is financed by VEB.RF and its strategic partner China Development Bank (CDB) on the principles of the Project Financing Factory.
This project is part of an extensive joint VEB.RF and CDB agenda to create a financial mechanism for merging integration efforts across the EAEU and China’s Belt and Road Initiative. It is crucial for the Far East and diversification of the Russian economy.
The project is the third phase of the comprehensive programme to increase methanol production on Shchekinoazot’s production site in the Tula Region. When completed, the project will make the company the largest methanol producer and exporter in Russia.
KuibyshevAzot is a leader in the chemical industry and Russia’s largest manufacturer of caprolactam and polyamide, ranking among the top ten nitrogen producers in the country. Its products will enable KuibyshevAzot to supply its process chain with its own feedstock. Products resulting from subsequent process stages will contribute to achieving the goals of import substitution.
Located in Trans-Baikal Territory, Udokan is Russia’s largest undeveloped copper deposit and one of the largest in the world. Its development includes the construction of Phase 1 of a mining and smelting facility to produce cathode copper and copper concentrate, an open-cut mine with the annual production of 12 million tonnes of ore, and the respective infrastructure.
The vessels will provide year-round oil shipping from regions with challenging ice conditions. The tankers will use LNG as fuel which will significantly reduce harmful emissions to the environment: sulphur oxides (SOx) by 100%, nitrogen oxides (NOx) by 76%, and carbon dioxide (CO2) by 27% as compared with heavy fuel.
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