PhosAgro doesn’t plan to change the investments volume

PhosAgro is planning capital investments in the current year to be at the level of 30-36 billion rubles (approximately $396.8-476.1 million), said PhosAgro CEO Andrey Guryev.

“For the current year, we have remained our capital expenditures as planned: about 30-36 billion rubles (approx. $396.8-476.1 million). It depends on the exchange rate, which we cannot predict, there are big macroeconomic risks,” Andrey Guryev noted.

He also stressed that all the investments that PhosAgro has planned for 2020 “are completely under control to date”.

In May this year, it was reported that the company maintains its forecast for capital investments for 2020 at the level of 36-37 billion rubles (approx. $476.1-489.3 million). The bulk of investments will be directed to the construction of a complex for the production of phosphorus fertilizers at Metachem. The first products from the complex will be received this year, said PhosAgro CFO Alexander Sharabaika.

Source: Interfax