Methanol production with a capacity of 500 thousand tons per year was launched in the Tula region
10.10.2021
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Methanol production with a capacity of 500,000 tons per year has been launched in the Tula Region, with Gazprombank acting as a financial partner for its construction. The total cost of the project is 22 billion rubles, of which about 16 billion rubles were provided by the Bank, including 10 billion rubles under a syndicated loan jointly with VEB.RF under the Project Finance Factory mechanism. Production started ahead of schedule and provides for the creation of 120 jobs.
When implementing the project, a highly efficient technology was used to minimize the impact of production on the environment. It is also planned to introduce a CO2 capture system at the methanol plant, which will reduce the carbon footprint of methanol production by 90%.
The project is the third phase of a comprehensive program to increase methanol production by industrial site of the Shchekinoazot company up to 1.5 million tons per year and complies with the presidential decree regarding the development of exports of non-resource non-energy goods. The main methanol sales markets for Shchekinoazot – countries of the European Union (Poland, Slovakia, Czech Republic, Romania, Hungary, Lithuania, Finland, etc.).
This is the second methanol project of the company, implemented with the support of Gazprombank. Thanks to the launch of this unit, Shchekinoazot becomes the largest methanol producer in Russia and Europe.
"Gazprombank is a long-term partner of Shchekinoazot." The project allowed the company to receive additional financing benefits and launch production ahead of schedule, which ensures low consumption of natural gas and energy compared to competing technologies and industries, is equipped with an environmental monitoring system and helps to increase the export potential of our country. I believe that the mechanism of the Project Finance Factory has fully proved its effectiveness. Sure, that the experience and expertise of Gazprombank in the implementation of significant investment projects will allow us to continue to implement initiatives that contribute to the development of the national economy”, – emphasized Alexey Belous, Deputy Chairman of the Management Board of Gazprombank.
“This is already the fourth completed project among the Factory's transactions. Our partnership with Gazprombank and the initiator of the project made it possible to launch production a year and a half earlier than planned. The project finance factory has become an effective project support mechanism. In addition, the changes introduced this year to the Factory mechanism now allow combining various types of state support within the framework of one investment project. So, For many of our export-oriented projects, the Corporate Competitiveness Improvement Program (CPC) is very important, providing significant subsidies for the interest rate, which is now combined with the Factory by the Shchekinoazot project, – noted VEB.RF Chairman Igor Shuvalov.
«M-500 Plant – high-tech. The applied technology is resource and energy efficient. The project is of strategic importance both for the company and for our country. What we have achieved – it is the result of painstaking work and accurate economic calculations, knowledge of the markets, the ability to see the future. It is based on a competent, professional team. This is an activity in partnership with the authorities, key financial institutions, global licensors. And the foundation of the basics – it is science and advanced technological solutions that ensure the industrial and environmental safety of our production. We build factories, but we do it while preserving the unique nature of the Tula region, the protected Yasnaya Polyana, – commented the President of the company «Shchekinoazot» Boris Sokol.
laquo;Shchekinoazot» Boris Sokol.
laquo;Shchekinoazot» Boris Sokol.
