Italian companies Saipem, Codest and SACE are going to erect a melamine plant in the Republic of Tatarstan, Russia.
The Memorandum of Understanding was signed on March 22 by the Republic’s President Rustam Minnikhanov and President of Codest, Claudio de Eccher, at a meeting of the Board of Tatneftekhiminvest Holding.
The cooperation plan was presented by Elshad Mamedzade, Business Development Director for Codest International. He recalled that the parties met in December last year during a visit of the Tatarstan’s delegation to Italy.
“The companies expressed a great interest in working on priority investment projects in the oil and gas, petrochemical, energy industries and transport infrastructure. The implementation of these projects suggests the use of new technologies, construction on a turn-key basis, and ensuring the project financing in full on terms of return of invested funds after the facilities’ commissioning, he said.
As a pilot project, a proposal for the construction of a melamine plant with a capacity of 40,000 tons is being negotiated.