Azomures has secured 75 million euro from a 10-year syndicated loan provided by BCR in cooperation with UniCredit Tiriac Bank. Radu Taracila Padurari Retevoescu SCA in association with Allen & Overy LLP acted as legal advisors to the lenders, reads a joint press release. The law firms were also involved in the 66 million loan facility arranged by Ceska sporitlena  in cooperation with BCR(66 million euro) Azomures signed in May this year.

The new loan agreement was signed on October 22, 2014 and the funds released will enable the Romanian chemical fertilizers producer based in Targu Mures to carry out one of the most important investment project included in the programme aimed at modernizing the ammonia production facilities.

Through this investment, Azomures seeks to comply with environmental requirements, to reduce the specific consumption of natural gas which will lead to 13 percent lower energy consumption, to upgrade the control system and the automatic control of operations and emergency stops and to increase the production capacity of each plant from 900 tonnes per day to 1,050 tonnes per day.

Azomures, whose majority shareholder is Ameropa Holding AG of Switzerland, is the main chemical fertilizers producer in Romania where it records an annual production of at least 1.3 million tonnes. Its products reach agricultural producers in Romania and other countries in Europe, Africa, China, Japan, South America and the United States.