Maire Tecnimont Group signed a Memorandum of Understanding to develop, build, finance, maintain and operate a green-field methanol plant, to be implemented in the port of Ust Luga, the biggest port of the Baltic Sea, 110 km west of St. Petersburg – Maire Tecnimont announced on its website
The agreement was signed by Chairman of SAFMAR Group, Mikhail Gutseriev, Chairman of Maire Tecnimont, Fabrizio Di Amato, and Chairman of New Gavan, Sherbakov Denis.
SAFMAR Group, one of Russia’s largest industrial and financial groups, which includes large Russian oil-producing and oil-refining companies (a.o. Russneft, Neftisa, Forteinvest),
The methanol plant will have a capacity of 5,000 metric tons per day. Total investment cost for the project is preliminarily estimated to be in excess of EUR 1 billion.
Parties agree to discuss a Joint Development Agreement, which – amongst other – would initiate the Front-End Engineering Design (“FEED”) under the coordination of Tecnimont S.p.A, the Group’s main EPC contractor, and a Russian Design Institute.
In parallel, parties intend to set-up a JV and will closely collaborate in the project structuring activities in order to raise non-recourse project financing. The parties intend to raise financing from international banks with the support of one or more Export Credit Agencies.
During SPIEF Maire Tecnimont participated to the opening ceremony of the new EuroChem Ammonia production plant of Kingisepp, organized by the client EuroChem to celebrate the plant in operation.
“These MOUs provide further evidence of the Group’s strategic and proactive approach focused on an early involvement in clients’ investment initiatives, including their financing architecture” – commented Pierroberto Folgiero, Maire Tecnimont Group CEO
June 25, 2019
June 25, 2019