KuibyshevAzot reduced the production of carbamide and ammonium nitrate
The KuibyshevAzot plant (the city of Togliatti, Samara region) reported its 1H2021 financial and production results. The sales volume of products increased by 51% to 35.9 billion rubles (approximately $489 million) and net profit by 4.9 times to 7.4 billion rubles (approximately $100.8 million).
These results were achieved due to an increase in the production of products and recovery in the market conjuncture and demand after the 2020 recession due to the COVID-19 pandemic.
Ammonia production in the first half of this year increased by 2.1% to 555.5 thousand tons, ammonium sulfate by 6.4% to 261.3 thousand tons, however, the output of ammonium nitrate and carbamide fell by 4.3% to 359.4 thousand tons and 4.2% to 176.7 thousand tons, respectively.
KuibyshevAzot continued the implementation of investment projects, particularly the construction of a new carbamide plant.