Chemical Company "Shchekinoazot" purchases equipment for the production of methanol

27.09.2019       

The first project under the Project Finance Factory; – JSC "Shchekinoazot" – received funding. Its launch will allow the enterprise to produce a total of 1.5 million tons of methanol per year. The project provides for the construction of the third stage of methanol production with a capacity of 500 thousand tons in the Tula region. The total cost of the project is 22 billion rubles, the planned financing period is – up to 12 years.
Ruble tranches for the entire term of the loan are provided with a state subsidy to compensate for part of the cost of the loan in the event of an increase in the key rate. The opening of the third stage of methanol production is planned for 2022. Its launch will allow the company to produce a total of 1.5 million tons of methanol per year.
The initiator and developer of the "Project Finance Factory" mechanism is the Ministry of Economic Development of Russia. "Project Finance Factory" is designed to stimulate the growth of private investment in the economy and this is ensured mainly by minimizing the risk of an increase in the cost of financing in the event of a change in macroeconomic conditions and, consequently, a decrease in the cost of projects for the real sector.

Reference
Consolidated chemical company "Shchekinoazot" has been working in the industrial chemistry market for more than six decades. The enterprise occupies one of the leading positions among Russian companies specializing in the production of basic industrial chemicals, engineering plastics, synthetic threads, specialty and consumer products.
In September 2018, the groundbreaking ceremony for the methanol production unit (M-500) was held. The company started the project in the fourth quarter of 2016. In November of the same year, a contract was signed with the Danish Haldor Topsoe.