KuibyshevAzot to put Volgafert in pledge
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The board of directors of the KuibyshevAzot plant (Togliatti, Samara region) has decided to put 68% of Volgafert’s charter capital on pledge to Unicredit Bank, the company said.
Volgafert is a joint venture of KuibyshevAzot and the Italian Maire Tecnimont Group. It plans to set up a granular urea production facility with a capacity of 1.5 thousand tons per day in the Togliatti AZD. Investments in the project will amount to 19.5 billion rubles (more than $ 305 million), and 60 new jobs will be created.
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It is alarming to see these developments in California. As a vineyard grower, I have faced significant challenges this year, with fertilizer costs rising sharply while market conditions have made it difficult to sell the harvest.
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