PhosAgro bets on its long-term strategy

PhosAgro Board of Directors recognized the progress in the implementation of the company’s development strategy until 2025 as successful and discussed the financial statements for the 1Q2021. PhosAgro CEO Andrey Guryev reported on the implementation of the strategy approved in March 2019.

“The first quarter of 2021 brought high results in terms of both the production achievements and sales policy. We set another record with 2.6 million tons of fertilizers and feed phosphates, which is by 2.3% more compared to last year,” said Andrey Guryev. “This result became possible due to the consistent implementation of the company’s development strategy until 2025. This strategy aims at continuous improvement in operational efficiency and growth in fertilizer production while maintaining the company’s leadership in the ESG field.

As part of the implementation of these tasks, we are building a modern industrial complex for the production of mineral fertilizers in the city of Volkhov. In April, the first unit of a new plant — a line with a designed capacity of 300 thousand tons of ammophos per year — was commissioned. After the completion of the project, the total capacity of the new plant will reach almost 900 thousand tons, which will ensure the long-term growth of operating indicators.”