Russian Vneshtorgbank's investments in Rustavi Azot

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Home » News » Russian Vneshtorgbank's investments in Rustavi Azot

19.07.2006	Russian Vneshtorgbank's investments in Rustavi Azot

This year Vneshtorgbank, a Russian bank, intends to invest USD135m in Georgian economy.

The bank official said that Vneshtorgbank is going to finance Energy Invest, the company which owns the chemical plant Azot in Rustavi, Georgia.

Energy Invest won a tender on Rustavi Azot privatization in 2005. According to the tender terms, Energy Invest is obliged to pay USD20m debts of bankrupted Azot. Besides, in two years Energy Invest has to fund USD18m in Azot, as a result it took a credit from the 'United Georgian Bank', the subsidiary of Vneshtorgbank .

Rustavi Azot produces ammonia, nitric acid, ammonia nitrate and cyanic sals.

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