One year negotiations held between European Bank for Reconstruction and Development (EBRD) and Rustavi Nitrogen has come to an end.
The sides have achieved an agreement, that works on the contract between biggest chemical company and European Bank will be finished within 2 months. Partnership Fund has supported finishing of the deal. According to the final data, Rustavi Nitrogen will get 155 million credit line. Initially, the matter concerned to 200 million.
The funding should be directed for relief the company’s loan commitments, as well as reconstruction-modernization of production line. Chemical plant with half of century experience is the sole produce of nitrogen fertilizers in the South Caucasus Region. To remind, the enterprise produces ammonia, sodium cyanide, nitric acid, ammonia water and other products.