ST PETERSBURG, Russia, May 25 (Reuters) - A group of investors led by Russian Direct Investment Fund (RDIF) and Japan’s Marubeni have signed a memorandum on construction of a methanol plant in Russia’s Ust-Luga port on the Baltic Sea, RDIF said on Friday.
The plant will have a capacity of 1.7 million tonnes a year, RDIF said, adding that Marubeni will assist the investors in obtaining debt financing from Japanese financial institutions.
The partners have also agreed to build a sea export terminal in Ust-Luga. The other partners in the project are Baltic Gas Chemical Company and private investment firm Invasta Capital. (Reporting by Polina Devitt; writing by Vladimir Soldatkin; editing by Maria Kiselyova)