Dentons has advised the EuroChem Group on a project financing for the construction of an ammonia plant in Kingisepp, Russia, from a bank syndicate consisting of VEB.RF, Sberbank, VTB Bank, Gazprombank, and Otkritie FC Bank. Linklaters Moscow advised the banks.
The total anticipated cost of the project is RUB 123.5 billion, 80% of which will be provided by the banks.
According to Dentons, “the production facility with an annual capacity of 1.1 million metric tons of ammonia and 1.4 million tons of carbamide is scheduled to begin operation in 2024.”
The Dentons team included Partner Evgenia Laurson, Counsel Konstantin Nazarov, Senior Associate Anna Booth, and Associate Gleb Tikhomirov.
The Linklaters team consisted of Partner Ilia Ditiatev, Counsel Julia Voskoboinikova , Managing Associates Maxim Kraynov and Ivan Ditiatev, and Associate Dmitry Gorchakov.