EuroChem is negotiating the construction of a plant in the UAE – Kommersant
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Fertilizer manufacturer Eurochem is negotiating the construction of an ammonia and urea plant in the UAE. This is reported Forbes citing two sources.
According to a source from investment bankers, EuroChem has problems with local banks. The company is also in talks to buy a bank in Mauritius.
As another source, close to the businessman and founder of EuroChem, Andrey Melnichenko, specified, the negotiation process is at an early stage. At the same time, the production of ammonia and carbamide has been discussed for a year, but the negotiations did not go beyond preliminary consultations with the authorities.
Andrey Melnichenko was included to the EU sanctions list on March 9, 2022 in response to the entry of Russian troops into Ukraine. The day before, the businessman ceased to be the beneficiary of EuroChem and SUEK. The role of the beneficiary automatically passed to the wife of the businessman Alexandra Melnichenko. According to Forbes, Andrey Melnichenko owned 100% of the shares of EuroChem and 92.2% of SUEK through a trust.
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