Indorama bought Rustavi Azot
The Singapore corporation Indorama has acquired the Rustavi Azot plant (Georgia), the Ministry of Economy and Sustainable Development of Georgia has reported. The buyer of 100% of the company’s shares was the Georgian subsidiary of Indorama. The amount of the deal is not disclosed.
Rustavi Azot can produce up to 400 thousand tons of ammonia and 450 thousand tons of nitrogen fertilizers (ammonium nitrate and ammonium sulfate) per year. Their sales are carried out to Azerbaijan, Armenia, and the countries of the European Union.
In 2021, Rustavi Azot was engulfed in a strike by workers demanding higher wages. Last year, the German Ministry of the Environment gave the plant a $2 million grant for technical re-equipment, which was supposed to reduce emissions of harmful substances into the atmosphere.