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The EBRD Allocated US$ 155 mln to Rustavi Azot

The EBRD Allocated US$ 155 mln to Rustavi Azot

“European Bank Reconstruction and Development” (EBRD), is considering extending financing of up to US$ 155 million (€136 million) to Rustavi Azot LLC.

The agreement is already signed among the sides and it should be matered after several procedures. According to the company, the project is expected to achieve a positive transition impact primarily by setting standards for corporate governance and business conduct. The planned modernization programme includes a number of improvements in to the old production processes, which are aimed at reducing energy consumption and CO2 emissions.

Total budget of investment project is 175 million. Negotiations on gaining of funding from international organizations have been carried trough 1 year. To remind, The Company is a producer of nitrogen based fertilizers in Georgia and is the primary supplier to customers in the Caucasus region. As of 5 months data, the export of fertilizers has exceeded 39 million USD.