Nevinnomyssky Azot will create an expensive production
Nevinnomyssky Azot (part of EuroChem) plans to implement a large-scale investment project on the terms of a special investment contract, which is an agreement between the investor and the state. Under its terms, the investor is obliged to implement an investment project for the serial production of modern products that can compete in the world market, and the state undertakes to create stable conditions for business and provide tax preferences.
Under the special investment contract, Nevinnomyssky Azot will create the production of potassium nitrate and ammonium chloride. The volume of capital investments in the project will exceed 4.5 billion rubles (approximately $61.5 million), and the production is scheduled to start operating by the end of 2024.
“According to the project, it’s planned to annually produce up to 70 thousand tons of fertilizers with high levels of environmental friendliness and energy efficiency. This will allow satisfying the demand on the domestic agricultural market, as well as ensuring export supplies to some foreign countries,” said Vitaly Shulzhenko, Minister of Energy, Industry and Communications of the Stavropol region.
The commissioning of the new production is scheduled before the end of 2024.