DJ PhosAgro Launches Test Production at new MAP Line in Volkhov
OJSC PhosAgro (PHOR) PhosAgro Launches Test Production at new MAP Line in Volkhov 19-Apr-2021 / 19:20 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. =---------------------------------------------------------------------------------------------------------------------- For Immediate Release 19 April 2021 PhosAgro Launches Test Production at new MAP Line in Volkhov Volkhov, Leningrad region - PhosAgro (Moscow Exchange, LSE: PHOR), one of the world's leading vertically integrated phosphate-based fertilizer producers, announces the launch of its new production line at the Volkhov production site. The new plant, together with a power station, are being built as part of PhosAgro's strategy to 2025. The new production facility, which has a capacity of 300 thousand tonnes per year, produced the first batch of MAP, a nitrogen-phosphorous fertilizer, which is in demand both in the Russian market and abroad. Once the construction of the entire factory is completed, the production site's annual capacity will more than quadruple to 880 thousand tonnes of fertilizer. Work is currently under way to build two more production lines. The final phase will be the launch of a water-soluble MAP shop. In addition, the sulphuric and phosphoric acid production lines are undergoing comprehensive upgrades. The construction of a power plant with a capacity of 32 MW is also under way, which will provide for 85% of the enterprise's electricity needs. The power plant will operate on process steam from sulphuric acid production. At the same time, support infrastructure for the new production facilities is being developed, including a railway junction, warehouses for raw materials (phosphate rock, sulphuric acid, ammonia and mineral fertilizers), power distribution systems and equipment, and a chemical treatment station. Total investments in the project will exceed RUB 28 billion. The best available technologies are being used in the construction, and the new plant will comply with the strictest Russian and European environmental laws. About us PhosAgro (www.phosagro.ru) is one of the world's leading vertically integrated phosphate-based fertilizer producers in terms of production volumes of phosphate-based fertilizers and high-grade phosphate rock with a P2O5 content of 39% and higher. PhosAgro's environmentally friendly fertilizers stand out for their high efficiency, and they do not lead to the contamination of soils with heavy metals. The Company is the largest phosphate-based fertilizer producer in Europe (by total combined capacity for DAP/MAP/NP/NPK /NPS), the largest producer of high-grade phosphate rock with a P2O5 content of 39%, a top-three producer of MAP/DAP globally, one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia, and Russia's only producer of nepheline concentrate (according to the RAFP). PhosAgro's main products include phosphate rock, more than 50 grades of fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which are used by customers in over 100 countries spanning all of the world's inhabited continents. The Company's priority markets outside of Russia and the CIS are Latin America, Europe and Asia. PhosAgro's shares are traded on the Moscow Exchange, and global depositary receipts (GDRs) for shares trade on the London Stock Exchange (under the ticker PHOR). Since 1 June 2016, the Company's GDRs have been included in the MSCI Russia and MSCI Emerging Markets indexes. More information about PhosAgro can be found on the website: www.phosagro.ru. =---------------------------------------------------------------------------------------------------------------------- ISIN: US71922G2093 Category Code: MSCM TIDM: PHOR LEI Code: 25340053KRUNNYUWF472 Sequence No.: 99947 EQS News ID: 1186361 End of Announcement EQS News Service =------------------------------------------------------------------------------------ Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1186361&application_name=news
(END) Dow Jones Newswires
April 19, 2021 12:20 ET (16:20 GMT)
