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15 April 2015: EuroChem, Maire Tecnimont and SACE sign MOU for construction of five Fertilizer Plants

15 April 2015

EuroChem Group AG, Maire Tecnimont and SACE have jointly announced the signing of a Memorandum of Understanding (MoU) in relation to the construction of five ammonia-urea plants (the Project) to be commissioned in Russia, the United States and Kazakhstan over the next 10 years.

According to the MoU, EuroChem will first invite Maire Tecnimont to submit its proposal to undertake engineering, procurement and construction services for the Projects, while SACE will evaluate issuance of credit insurance policies in connection with the Project.

In Russia, EuroChem and Maire Tecnimont will work together on three Projects: an ammonia-urea facility in Nevinnomyssk and an ammonia plant in Kingisepp, the latter including an additional Project to integrate urea production. Maire Tecnimont has already completed front-end engineering design for the Nevinnomyssk facility and the Kingisepp ammonia plant.

In addition, the companies will cooperate on two other ammonia-urea Projects, one in the state of Louisiana, US, and the other near Zhanatas, Kazakhstan.

The Projects will provide EuroChem with an additional five million tonnes of ammonia and 7.5 million tonnes of urea capacity per annum.

The MoU was signed by EuroChem CEO Dmitry Strezhnev, Maire Tecnimont Russia and Caspian Region Senior VP Gianni Bardazzi and SACE Managing Director, Head of Export Credit Teresa Saponara, in the presence of EuroChem co-founder Andrey Melnichenko, Maire Tecnimont founder and Chairman Fabrizio Di Amato and SACE Chairman Giovanni Castellaneta. The ceremony was also attended by, amongst others, Federica Guidi, Minister of Economic Development of Italy, Luca Lotti, State Secretary of the Italian Prime Minister's Office, H.E. Sergey Razov, Ambassador of the Russian Federation to Italy, and H.E. Cesare Maria Ragaglini, Italian Ambassador to Russia.

Dmitry Strezhnev, EuroChem’s CEO, commented: “We are pleased to sign this landmark Memorandum of Understanding with Maire Tecnimont and SACE covering the construction of five new ammonia-urea facilities in three countries over the next 10 years. This is another milestone in the execution of our strategy which will enable EuroChem to further solidify its position as a leading global agrochemical company. Maire Tecnimont and SACE are highly regarded and experienced companies and we look forward to working together on the development of these large-scale projects.”

Fabrizio Di Amato, Maire Tecnimont Chairman, added: “With this prestigious signing our Group further reinforces its relationship with EuroChem, a leading global player in the fertilizers industry. This Memorandum of Understanding will enable both Groups to unlock their potential and jointly pursue mutually beneficial business initiatives on a global scale.”

Giovanni Castellaneta, SACE Chairman, declared: “This Memorandum of Understanding confirms our well-established partnership with Maire Tecnimont, an excellence of Italian technology worldwide, and will enable us to build up a profitable long-term alliance with EuroChem in order to support Italian industrial groups and SMEs involved in major international projects in high potential markets”.


Maire Tecnimont


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