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Russia's Phosagro gets EUR 73 mln loan from Unicredit
November 3, 2015 / 2:03 PM / 2 years ago

Russia's Phosagro gets EUR 73 mln loan from Unicredit

PRAGUE, Nov 3 (Reuters) - Russian fertiliser producer Phosagro said on Tuesday it had received a 73.4 million euro ($81 million) loan from UniCredit Bank for the construction of a new urea line in Russia’s Vologda region.

The loan was provided for 12 years by UniCredit Bank Czech Republic and Slovakia with insurance cover from the Czech Republic Export Guarantee and Insurance Corporation (EGAP), it added.

The funds will be used for project documentation and acquisition of equipment from Czech engineering firm Chemoproject Nitrogen for the construction of a granulated urea production line with an annual capacity of 500,000 tonnes at PhosAgro-Cherepovets in the Vologda region. ($1 = 0.9111 euros) (Reporting by Robert Muller; Writing by Polina Devitt; Editing by Jan Lopatka)

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