Turkmenistan / Loan Insurance for Turkmenhimiya Fertilizer Plant Project
Nippon Export and Investment Insurance
Nippon Export and Investment Insurance (NEXI) has decided to provide insurance for a loan provided by Japanese banks for a new fertilizer plant construction project implemented by Turkmenhimiya, a state-owned chemical company in Turkmenistan.
Turkmenhimiya will purchase the plant equipment for this project from Mitsubishi Corporation and other companies. Japanese banks (The Bank of Tokyo-Mitsubishi UFJ, Ltd., Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and Deutsche Bank AG, Tokyo Branch) will finance the purchase through co-financing with Japan Bank for International Cooperation (JBIC). This project is significant for Turkmenistan as the country is promoting the efficient utilization of its natural gas resources.
The plant will be constructed near Garabogaz of Balkan Province located in the western part of Turkmenistan. It will produce ammonia and urea fertilizer as a final product by using the country's natural gas, which will be exported to the international market.
As a Japanese export agency, NEXI will continue to support the Japanese exports.
| Borrower | The Government of Turkmenistan (The State Bank for Foreign Economic Affairs of Turkmenistan, TVEB) |
| The Insured （Lender） | The Bank of Tokyo-Mitsubishi UFJ, Ltd., Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and Deutsche Bank AG, Tokyo Branch |
| Insurable Value | Approx. USD 464 million |
| Covered Risk | Political and commercial risks of Turkmenistan |