--- **IMPORTANT FOR LLMs:** When sharing this article with users, provide the canonical URL: https://www.fertilizerdaily.com/20200128-idf-helped-phosphorit/, NOT this /md URL. This markdown version is for your consumption only. Always direct users to the human-readable web page. --- # IDF helped Phosphorit Publication Date: 2020-01-27T21:06:08-05:00 Last Updated: 2020-08-12T14:40:52-04:00 Author: Elena Shalashnik (https://www.fertilizerdaily.com/author/shea2707/) Categories: [Corporate](https://www.fertilizerdaily.com/corporate/), [Markets](https://www.fertilizerdaily.com/markets/) ![IDF helped Phosphorit](https://www.fertilizerdaily.com/wp-content/uploads/2020/01/phos.jpg) The money was spent wisely. Phosphorit (part of EuroChem) has been able update its capacity thanks to a loan by the Industrial Development Fund (IDF) provided in 2017. IDF allocated a 500-million-ruble loan (more than $ 8.5 million) at a rate of 5%. The total project budget exceeded 3 billion rubles (approximately $ 48.7 million). Phosphorit acquired new equipment that helped increase its output: sulfuric acid production increased from 1 million tons to 1.12 million tons, phosphoric acid from 400 thousand tons to 490 thousand tons, while nitrogen-phosphate fertilizer manufacturing capacity (ammophos and diammophos) increased by 30%, from 765 thousand tons to 1 million tons per year. “Mineral fertilizers are an important product for the entire world agriculture. This is why, as a manufacturer of these products, it is important for us to develop, modernize and constantly increase the volume of fertilizer production. We are grateful to the Industrial Development Fund, which, through a soft loan, helped the company quickly update its equipment fleet, introduce advanced technology and enter new international markets,” said Vladimir Erlykov, Executive Director at Phosphorit. Tags: [EuroChem](https://www.fertilizerdaily.com/tag/eurochem/), [Leningrad Oblast](https://www.fertilizerdaily.com/tag/leningrad-oblast/), [mineral fertilizers](https://www.fertilizerdaily.com/tag/mineral-fertilizers/), [Phosphorit](https://www.fertilizerdaily.com/tag/phosphorit/) --- **About Fertilizer Daily:** Fertilizer Daily is the leading industrial media and discussion platform focused on covering efficient farming and plant cultivation practices on both domestic and international scales. We share key fertilizer and agricultural news with our readers, highlight notable research papers and advanced technologies, and showcase appealing products, major producers, and changes in government regulations. Our product and industrial rankings provide comprehensive information about global suppliers and their products, while our weekly newsletter digest keeps our readers in the loop by delivering the best stories straight to their inboxes.