Friday, November 24, 2017

Alfa-Bank wins leasing bid to supply ammonia tanks to UralChem-Trans

Last week, Alfa-Bank announced that it has won a bid to supply 100 new ammonia tanks to UralChem-Trans over the next 10 years.

Alfa-Bank's bid of $13.8 million bested proposals from Sberbank and VTB for supplying rights. The ammonia tanks supplied to UralChem will be manufactured at Ruzaevsky Chemical Engineering (Ruzkhimmash) factory, a subsidiary of RM Rail.

The agreement with Alfa-Bank is part of UralChem's ongoing program to reduce its dependence on foreign resources by way of expanding its own fleet of ammonia tanks. Established in 2012, the strategy has allowed UralChem to increase the proportion of self-owned ammonia tanks from 40 percent (in 2012) to 71 percent, which is expected by year's end. In total, UralChem has 1,700 ammonia tanks in storage, of which it owns 1,200.

Founded in 1990, Alfa-Bank is a universal bank with both private and corporate clients. As of 2013, Alfa-Bank and its subsidiaries held $48.6 billion in total assets and reported a year-end profit of $900 million.

UralChem is one of Russia's largest producers of mineral fertilizers. The majority of UralChem's clients are domestic or in CIS countries. The company's 2013 revenues amounted to $1.99 billion.