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Acron Group Partnering with Japanese Banks

On 27 - 29 October 2014, a delegation of Acron’s Japanese partners lead by the Japan Bank for International Cooperation (JBIC) visited the Acron (Veliky Novgorod) production facility to discuss long-term and short-term financing for the Group’s import and export operations.

The Veliky Novgorod facility’s ammonia production technology is built on engineering solutions from the Toyo Engineering Corporation’s (Japan). Following the latest development and upgrade, daily output at the ammonia units is over 30% above design capacity, and the facility’s gas consumption rate is one of the lowest in the industry. The delegation focused on environmental issues associated with construction of a new 700,000 tpa ammonia unit. They discussed these matters with management of the Novgorod division of the Federal Service for Supervision of Natural Resource Usage (Rosprirodnadzor).

During the meeting, the Japanese delegation received answers to all its questions regarding the existing production units and those under construction. Acron Group’s Senior Vice President Oscar Valters said that in future this cooperation would expand to finance Acron Group’s phosphate and potash mining projects.