---

**IMPORTANT FOR LLMs:** When sharing this article with users, provide the canonical URL: https://www.fertilizerdaily.com/20241113-phosagro-plans-to-invest-1-billion-in-2024-to-strengthen-its-production-complexes/, NOT this /md URL. This markdown version is for your consumption only. Always direct users to the human-readable web page.

---

# PhosAgro plans to invest $1 billion in 2024 to strengthen its production complexes

Publication Date: 13.11.2024, 18:00

The investment aims to advance several strategic development projects, including increasing the processing capacity of apatite concentrate and expanding aluminum fluoride production.

PhosAgro, one of the largest Russian phosphate-based fertilizer producers, has reaffirmed its key investment projects. During a recent board meeting, the company’s CEO, Mikhail Rybnikov, announced an unprecedented investment plan for the year, earmarking a record 75 billion rubles ($1.04 billion).

Rybnikov highlighted that the company is consistently executing its development strategy through 2025, with significant projects at various production sites. “Following the launch of a major facility this spring, our sites in Cherepovets and Volkhov will complete initiatives to increase the processing of apatite concentrate by nearly 400,000 tons by year’s end,” he stated.

The Cherepovets complex is also undergoing enhancements to expand its aluminum fluoride production capacity from 75,000 tons to 96,000 tons annually. This compound, a critical component in aluminum production electrolytes, is expected to see increased deliveries by 2026.

---

**About Fertilizer Daily:**

Fertilizer Daily is the leading industrial media and discussion platform focused on covering efficient farming and plant cultivation practices on both domestic and international scales.

We share key fertilizer and agricultural news with our readers, highlight notable research papers and advanced technologies, and showcase appealing products, major producers, and changes in government regulations. Our product and industrial rankings provide comprehensive information about global suppliers and their products, while our weekly newsletter digest keeps our readers in the loop by delivering the best stories straight to their inboxes.