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GIAP will project NZMU methanol complex in Primorsky Krai

CIS GAS MONETISATION

GIAP will project NZMU methanol complex in Primorsky Krai

The general design engineer of the methanol complex of the Nakhodka Fertilizer Plant (NFP) will be a group of companies GIAP, Rupec reports.

Within the agreement with the EPC-contractor of the project, China Chengda Engineering Co., GIAP will adapt the base project, develop the engineering documentation, submit documentation for Glavgosexpertiza, and provide engineering services during the construction and launch of production. The works on the project will start in December 2019, and it is planned to launch the complex in 2013.

The methanol production capacity will amount to 5.4 thousand tons per day.

The construction of the plant in Nakhodka will be financed by the State Development Bank of China, which will invest about $1.7 billion, and the State Corporation VEB.RF — it has signed a financing agreement with VTB Bank and NZMU. According to Kommersant, the companies' participation will amount to $2.5 billion, Rupec reports.

Besides, the Far East Development Fund will provide a preferential loan for NZMU at an annual interest rate of 5% for 7 billion rubles.

Natural gas will be supplied for production from Sakhalin fields. In addition to methanol, the ammonia capacity will amount to 1.8 million tons, while the urea capacity will amount to 2 million tons.

Haldor Topsoe, a Danish company, has been selected as the licensee for methanol production. The general contractor is China Chengda Engineering Co., LTD.

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