TogliattiAzot has updated the investment program
The Board of Directors of TogliattiAzot (Samara Region) approved an updated investment program for 2019-2029 in the amount of 39 billion rubles (about $600 million). The program includes strategic investment projects that are currently being implemented. Between 2012 and 2018, TogliattiAzot invested more than 33 billion rubles (approximately $500 million) in the program of modernization and investment development.
The construction of a third urea production unit is among the projects envisaged by the program. As part of its implementation, construction and installation works started in 2018. At the moment, a number of preparatory operations has been completed: the foundation pit has been equipped and the foundation for a granulation tower is about to be laid; the site has been cleared, the foundation pit has been prepared and the construction of the power station pile foundation has begun; the installation of the inhouse concrete distribution unit has been completed, and its commissioning is being carried out.
The unit is scheduled to be set in operation for the second half of 2021. The total investment in the project is more than 25 billion rubles (around $380 million), and the unit production capacity is 2.2 thousand tons per day.
According to the approved investment program, TogliattiAzot intends to continue to modernize and update the existing ammonia and urea units and is going to invest more than 8 billion rubles (more than $120 million) into this intention.
The TogliattiAzot management together with consultants are currently mapping out a long-term strategic development program, the results of which will indicate the direction of the enterprise development for the next five years, and, as a result, the volume and timing of further implementation of a number of large-scale projects.
“TogliattiAzot maintains the course towards the modernization of existing facilities in order to further enhance efficiency, increase global competitiveness and environmental safety in the region. At the same time, we continue to develop new investment projects that will allow TogliattiAzot to reach a new level of development and expand its presence in the domestic and world markets,” emphasized Petr Ordzhonikidze, Chairman of the Board of Directors of TogliattiAzot.