PhosAgro to lease 500 fertiliser wagons from Gazprombank
RUSSIA: Fertiliser producer PhosAgro has signed a 2·9bn rouble 10-year agreement to lease 500 high-capacity hopper wagons from Gazprombank Leasing, with an option to buy.
PhosAgro currently has a fleet of more than 6 000 owned and leased wagons. The latest vehicles are scheduled to be delivered from United Wagon Co’s Tikhvin plant in January.
‘This transaction is designed to renew our fleet, given the increasing demands placed on it, and to strengthen our competitiveness both at home and in international markets’, said PhosAgro CEO Andrey Guryev on October 26. ‘With leasing rates for vehicles of this type increasing, having new hoppers with expanded capacity will have a substantial economic effect, particularly given the increases in our urea production. According to our estimates the benefit could be more than 300m roubles.’
Gazprombank Leasing ‘endeavours to embed ourselves as deeply as possible in our clients’ business and in addition to financing can provide expert support, arrange payment schedules and factor in all the subtleties of the market’, said CEO Maxim Agadzhanov.