Russia's Uralchem to build fertiliser production plant in Angola

MOSCOW, Oct 24 (Reuters) - Russian fertiliser maker Uralchem plans to build a fertiliser production plant in Angola, it said in a statement on Thursday.

* The plant with an annual capacity of 1.2 million tonnes of urea per year is expected to start production in 2023;

* The memorandum of understanding for this project was signed by Uralchem and Angola’s Grupo Opaia SA on the sidelines of the Africa-Russia forum in the Black Sea city of Sochi;

* The project will require between $1.2 billion and $1.3 billion of investment;

* Uralchem plans to attract bank financing for the project;

* Opaia will be in charge of regulatory approvals of the project in Angola, supply of gas for the plant and choosing the location. (Reporting by Polina Devitt; Editing by Edmund Blair)