PhosAgro Signs New Collective Agreements With Its Employees

The Board of Directors of PhosAgro, one of the world’s leading producers of phosphate-based fertilizers, welcomed the signing of new collective agreements at all enterprises of the Group.

During the off-site meeting, which took place at the site of the company’s plant in Volkhov, which will reach its design capacity of one million this year, the reports of the CEO and the Board of PhosAgro for the first half of 2023 were considered.

As Mikhail Rybnikov, CEO of PhosAgro, noted in his report, thanks to the consistent implementation of the investment program, for which a record amount of 67 billion roubles (over $680 million) is planned for this year, the company demonstrates confident momentum.

During six months of 2023, the output of fertilizers increased by 4.3% year-on-year and exceeded 5.6 million tons. Separately, it’s worth noting the segment of phosphorus-containing fertilizers, the output of which increased by 19% to more than 2.4 million tons. The main growth driver was the creation of a modern complex for the production of phosphorus-containing fertilizers in Volkhov. Thanks to the fundamental modernization and new construction carried out at the enterprise, the annual production of mineral fertilizers and other chemical products will exceed 1 million tons. In the first half of the year, the new million-plus plant mastered the production of water-soluble monoammonium phosphate, and launched a project to increase the processing of apatite concentrate.

The company also continues to develop its ore and raw material base: the launch of the 2nd start-up complex of the 10th horizon of the Kirovsk mine is scheduled for the fourth quarter. PhosAgro’s production facilities are being modernized and expanded. In Cherepovets, in addition to modernizing the facilities for the production of ammonia, phosphoric acid and sulfuric acid production, a project has been launched to increase the processing of apatite concentrate. In Balakovo, in the fourth quarter, projects will be completed to increase the production of feed phosphates and the production of sulfuric acid as part of the 3rd stage of the development of the production complex.

It’s symbolic that yesterday new collective agreements were signed at all production facilities of the PhosAgro Group. The company once again expanded the amount of social benefits and allowances for labor collectives in Volkhov, Cherepovets, Kirovsk and Balakovo. This is a landmark event both for the industry and for the domestic chemical industry as a whole.