South Ural Factory of Magnesium Compounds will receive state support
Governor of the Orenburg region Denis Pasler had a meeting with the management of South Ural Factory of Magnesium Compounds (SUFMC).
Over the past two years, the company has been increasing production volumes: 15.5 thousand tons were produced in 2020, and 3.4 thousand tons in the 1st quarter of 2021.
In 2021, SUFMC will receive 30 million rubles (approximately $387.5 thousand) from the Industrial Development Fund of the Orenburg region to expand the product portfolio. The production of a new product of the super sulfate brand will begin this year.
“A payback period of any new production takes from three to five years. We expect it to be four years. Without the support of the region, it would be difficult to implement this project,” said Oleg Sitak, General Director of SUFMC. “With the launch of the new line, we will also provide more jobs. We plan to increase the staff of the enterprise by another 25 people.”
SUFMC produces magnesium sulfate used in agriculture as a compound fertilizer.