PhosAgro plans to increase exports by 25%
PhosAgro CEO Andrey Guryev visited the terminal for the shipment of mineral fertilizers in the port of Ust-Luga (Leningrad Region).
The deep-water port will be able to accommodate the Panamax vessel, which is one of the largest cargo vessels. In June, the freight railway connection with the terminal was launched. A warehouse complex with a capacity of a million tons of one-time storage of mineral fertilizers is under construction as well.
After completion of construction in 2021, the terminal will become the largest one in Europe and will be able to transship up to 25 million tons of products per year in the future.
“We supported the implementation of this project at the St. Petersburg International Economic Forum in 2019 when PhosAgro signed a long-term contract for transshipment through the terminal. The volume of transshipment of PhosAgro mineral fertilizers may exceed 3 million tons,” said Andrey Guryev. “We plan to increase the export of fertilizers by a quarter as part of the company’s development strategy until 2025. Therefore, we are closely following the construction of the terminal in Ust-Luga. I am confident that in long terms its implementation will ensure the stability of the increasing supplies of our fertilizers.”