Nizhnekamskneftekhim Petrochemical Company concludes a long-term credit agreement

On May 25, during the St Petersburg International Economic Forum, the Nizhnekamskneftekhim Petrochemical Company concluded a long-term credit agreement covered by the Euler Hermes insurance policy for the amount of 807 million euros for the period until the end of 2032. The agreement was signed by Director General of Nizhnekamskneftekhim Azat Bikmurzin, and CEO for Deutsche Bank EMEA Ashok Aram.

Tatarstan President Rustam Minnikhanov and General Director of TAIF Productin and Investment Company Albert Shigabutdinov took part in the signing  ceremony.

A consortium of five banks, representing mainly the Federal Republic of Germany and organized by Deutsche Bank AG will be the creditor. In addition to Deutsche Bank, Bank UniCredit Bank AG, Bayerische Landesbank, Landesbank Baden-Wurtemberg, German Central Cooperative Bank (DZ BANK AG) are among the creditors. 

The credit funds will be used to finance the contract with Linde AG as part of the project implemented by Nizhnekamskneftekhim Compay for the construction of a new olefin complex with a capacity of 600,000 tonnes of ethylene per year (EP-600).

"The signing of this credit agreement is the brightest event at this forum, not only for our republic, but for the country as a whole. Due to this credit solution, the largest production facility to produce 600,000 tonnes of ethylene per year will be opened in Nizhnekamsk. This will double our production capacity by two times. I congratulate all of us on this event,” Minnikhanov said.