OREANDA-NEWS. September 07, 2012. The Samara branch of NOMOS-BANK has provided credit and documentary products totaling about RUB 3.5 billion to SANORS Holding, a major Russian petrochemical company and leading organization of the Volga region, reported the press-centre of NOMOS-BANK. 

As part of the credit limit, the company is attracting working capital finance (a loan of RUB 500 million) as well as refinancing of incurred capital expenses (USD 51 million). The Bank’s decision to provide the loan (USD 51 million) for 7 years was made after learning the Holding’s development program and SANORS’ current business status.

Moreover, as part of a documentary limit of RUB 1.3 billion SANORS will use NOMOS-BANK guarantees to meet obligations to suppliers, and guarantees on payment of VAT and excise guarantees.

"We are very positive in respect of cooperation between NOMOS-BANK and SANORS Holding. It is a major petrochemical company not only in the Volga region, but also a leading company at the national level, whose success is driven by the professionals. We are confident about our partnership and look forward to further develop our relationship," said Vyacheslav Urvanov, the Manager of NOMOS-BANK’s Samara branch.

"Our selection of NOMOS-BANK as a financial partner is based on a number of qualitative benefits including speed of issue-settlement, a flexible credit policy and the development of an optimal range of proposals for our company. The Bank offered us interesting financial solutions that allow us to reduce costs related to the Group’s production operation. Re-balancing the Group’s portfolio with increasing maturity periods is beneficial for the sustainable development of the Holding. We are confident of excellent prospects for our ongoing cooperation ,” said Igor Soglaev, President of SANORS Holding.

Petrochemical Holding SANORS (Novokuibyshevsk) was established in April 2011 on the basis of Novokuibyshevsk Petrochemical Company CJSC, Petrochemical LLC, and Samaraorgsintez. It makes more than 30 kinds of products. The main product lines are MTAE, phenol and acetone, gas-processing, synthetic ethanol, alkyl phenols and catalysts.

Consolidated revenues for SANORS Group in H1 2012 was RUB 9.8 billion, up 113% year-on-year. 2012 results are expected to be RUB 23 billion. According to the 2012 plan of development and production reconstruction a pilot commercial operation of the full range of production of high-octane motor fuel additive - methyl tertiary amyl ether (MTAE) , was launched on the site of Novokuibyshevsk Petrochemical Company CJSC. Start-up operations are generally completed and currently being fine-tuned. However, market-ready products have already been shipped to customers including major oil companies in Russia and abroad. The official opening of production and commissioning is scheduled for September 2012.

In addition, by the end of September this year, live projects related to the reconstruction and modernization of existing facilities will be extended: completion of re-fitting for production of para-tert-butyl-phenol (PTBF) to increase the volume of the output of commodity products by 50% and increase quality standards, and commissioning of isomerization of n-pentane with capacity volumes of 120,000 tons per year. The isopentane produced will be used in the Holding’s domestic production processes.