The BRICS New Development Bank is considering extending a loan for two projects in Russia.
Russian Finance Minister, Anton Siluanov has confirmed that the BRICS New Development Bank is considering extending a loan for two projects in Russia: the Amur gas processing plant (GCP) and the petrochemical plant in Tobolsk. The Finance Minister says: “The New Development Bank is currently considering in respect of possible financing the application of Sibur Company for construction of the petrochemical plant in Tobolsk and the Amur GPP construction project, implemented in the context of the Power of Siberia gas pipeline construction agreement,”
However, the decision on participation of the bank in these projects has not yet been taken and applications have not been presented to the NDB Board of Directors. The Finance Minister stated that “the applications undergo review by the management of the Bank and proactive consultations with potential borrowers are held. If all conditions are negotiated, the issue of credit extension can be considered by the end of this year.”
The Amur GCP is scheduled for commissioning in 2021 at the earliest. The gas chemical plant will process fractions of the natural gas. The main feedstock supplier for the GCP will be the Amur Gas Processing Plant of Gazprom, which will be built within the framework of gas supplies to China over the Power of Siberia gas pipeline.
MOSCOW, May 21. /TASS/.
Russian News Agency