PhosAgro will produce 10 mln. tons of products this year
The Board of Directors of PhosAgro approved the progress of the company’s key projects under its development strategy until 2025.
The Board of Directors considered the results of the implementation of PhosAgro’s key areas of activity in 2020 and approved plans for 2021.
“In the context of the pandemic and maintenance of comprehensive preventive measures at our enterprises, PhosAgro continues its steady progressive development. Year to year, we manage to show a production growth rate of 5%. I can say with confidence that this year PhosAgro will produce 10 million tons of all types of products, which is an all-time record for the company. At all investment sites, construction is in full swing, new production facilities are being commissioned and innovative brands of products are being produced,” said PhosAgro CEO Andrey Guryev.
“By the end of this year, we will complete a large-scale program for the modernization and technical re-equipment of the PhosAgro production complex in the Cherepovets city worth more than 100 billion rubles (approximately $1.3 billion). Earlier, a new complex was launched, which includes the third high-tech ammonia plant with a capacity of 760 thousand tons per year and a granular carbamide production with a capacity of 500 thousand tons per year, as well as a modernized sulfuric acid production unit and a terminal for storing raw materials with a capacity of 30 thousand tons, a new unit for the production of 300 thousand tons of high-quality ammonium sulfate per year and modern biological and chemical waste treatment facilities. By the end of the year, the first capacities of the new plant under construction, worth 28 billion rubles (approx. $362.1 million), will be launched in the city of Volkhov. In August, we completed the next stage of modernization of the production of mineral fertilizers in Balakovo city.
Improving operational efficiency and reducing production costs by the use of the best available technologies remain the priority areas for PhosAgro’s development. Progress in these areas will allow PhosAgro to maintain the position of one of the most efficient producers of mineral fertilizers in the world.”