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Russian EuroChem to invest USD30 mln in fertilizer plant in China

October 25/2013

MOSCOW (MRC) -- Russian fertilizer producer EuroChem will invest nearly USD30 million in the construction of a fertilizer plant in China, which will be launched in 2014, said PRIME, citing Director for Finance and Economy Andrei Ilyin.

"Investments amount to nearly USD30 million," he said. Earlier, the company said that the plant will be built jointly with Chinese potash fertilizer producer, Migao Corporation.

According to Ilyin, the plant will produce up to 60,000 tonnes of potassium nitrate and up to 200,000 tonnes of non-chlorine NPK fertilizers a year.

The plant will be focused on the Chinese market, where EuroChem is already selling more than 200,000 tonnes of specialized NPK fertilizers.

The company has not made a final decision on the construction of a USD1.5 billion plant for the production of ammonia and carbamide in the U.S.

Ilyin said that the company must analyze the projects prospects and profitability.

"There are numerous floating factors the gas price, the workforce cost, and the balance of supply and demand on the market. We must analyze quite a lot of factors," he said.

As MRC wrote before, EuroChem announced that the Northwestern Federal District Centre of Laboratory Analysis and Technical Metrology has completed the testing of effluent samples taken at its Phosphorit phosphate plant in Northwest Russia. The results and conclusions of the testing confirm Phosphorits internal laboratory results and effectively rule out any direct link between the plants activity and the increases in the phosphorous levels of the Luga River and Baltic Sea.

EuroChem is a top ten agrochemical company globally by nutrient capacity, producing primarily nitrogen and phosphate fertilizers, as well as certain organic synthesis products and iron ore.
Author:Anna Larionova
Tags:himiya, min.udobreniya, Evrohim.
Category:General News
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