PhosAgro is considering a new construction project

PhosAgro CEO Andrey Guryev announced that the company is considering the construction of a new complex for the production of ammonia and carbamide worth about 120 billion rubles (approximately $1.67 billion).

According to his statement, at the end of this year or the beginning of the next one, PhosAgro will present a development strategy until 2025 adjusted taking into account market trends. The adjusted strategy suggests the expansion of the company’s raw material base for ammonia and increasing sulfuric acid and ammonium sulfate capacities. The projects are currently at the stage of a feasibility study.

The forecasted by PhosAgro capital investments currently remain at the approved level of 41.5 billion rubles (about $577 million).

Source: Kommersant