PhosAgro-Cherepovets (FosAgro Group) signed credit agreement with JBIC, the Bank of Tokyo-Mitsubishi, Citibank Japan and Mizuho Bank in the volume of $440.6mln backed by NEXI, the company informed.
The raised funds will be spent to build the ammonium production plant with 760ths t/y in capacity. The contract was signed in 2013 with Mitsubishi Heavy Industries Ltd. involving Sojitz and Renaissance Construction. The plant is assumed to the launched in IH 2017.
PhosAgro (TIN 7736216869) is a vertically-integrated company and one of the leading world-known producers of phosphorous-containing fertilizers and apatite concentrate. The Group includes Apatit, PhosAgro-Cherepovets (formed within Ammofos/Cherepovetsky Azot merger), Agro-Cherepovets, Balaklavskie Mineral Fertilizers, PhosAgro-Trans, PhosAgro-Region and NIUIF.
The apatite-nepheline ore reserves of the fields are appraised to gain 2.1bn ton. The ore base covers considerable reserves of aluminum oxide and above 41% of all rare-earth elements in Russia.
The 9-month 2013 net profit (IAS) moved down 52% to 9.094bn rub. from 19.120bn rub.; revenues added 3% to come to 81.276bn rub. from 79.237bn rub.; EBITDA dropped 27% to 19.897bn rub. from 27.194bn rub.; EBITDA - 27% to 19.897bn rub. from 27.194bn rub.; EBITDA margin coming to 24% from 34%.
The IH 2013 net losses reached (RAS) 1.369bn rub. against 5.854bn rub. in profit prior year period. The revenues rallied down 6 fold to 1.012bn
rub. from 6.266bn rub.; gross profit - 715mln rub. from 6.076bn rub.