Phosagro is going to build a new plant in Volkhov for 23 billion rubles

NEWS

Phosagro is going to build a new plant in Volkhov for 23 billion rubles

Фото © Форпост Северо-Запад /

On Tuesday, 26 March, it was reported that the PhosAgro Group would invest 23 billion rubles in the construction of the system for the phosphate-based fertilizers production at the Metachem plant in Volkhov.

The company's fertilizers production volume is expected to grow from 200 thousand to 834 thousand tons.

According to PhosAgro's plans, the plant will produce sulphuric acid and liquid ammonia and finished product warehouses will be built. The company also plans to modernize the production of wet-process phosphoric acid, increasing it from 100 thousand tons to 500 thousand tons per year. The processing of apatite concentrate will increase from 300 thousand tons to 1.3 million tons per year.

Construction of the system will begin this year and will be completed by 2023. The enterprise will provide the region with 200 new jobs.

Andrei Guriev, PhosAgro's CEO, said that the plant's products in the Leningrad Region are designed for the domestic and foreign markets. The company will continue to export their products to Europe and to Latin America.

Governor of Leningrad region Alexander Drozdenko stated that PhosAgro would become a key taxpayer in the region.

"PhosAgro's successful experience in the region demonstrates it to our potential partners that we are the leaders of the Russian investment rating for a reason and we are ready to work with world-renowned companies," the Head of Leningrad Region said.

Besides, the company bought the Metachem plant in Volkhov in 2012.

As we have been informed earlier, by 2024 Russia will have invested 500 billion rubles in the chemical industry projects.

Forpost SZ

Popular news

Science
Are Hydrocarbons a Curse or Foundation for the Global Economy?

Over 900 specialists including representatives from Shell, Novatek and Gazprom participated in "Hydrocarbons. Look into the Future" online conference that took place at the Mining University.
The main topic - what does the future hold for hydrocarbon industries?

Campus life
Why Do Ecuadorian Youth Tend to Choose Russian Universities?

There are large oil reserves in Ecuador but not enough specialists who know how to work with modern technologies. Therefore locals, if an opportunity emerges, choose to study abroad.

Campus life
How Does It Feel to Study in Russia for an African Student from Côte d’Ivoire?

Life has become a success story for a young man from Côte d'Ivoire. As a child, he used to help his family on corn plantations. Some 15 years later, he is a PhD student at St. Petersburg Mining University who got a chance to shake hands with a Nobel laureate in physics.