In
2013 URALCHEM's investments in development reached $174 million, an
increase of 5.5% compared to the previous year.
Moscow,
Russia (March 21, 2014) -- In 2013 URALCHEM's investments in
development reached $174 million, an increase of 5.5% compared to the
previous year. $84 million was spent on the implementation of
investment projects, $77 million was spent on capital investments in
equipment upgrades and $13 million was allocated for capitalized
repairs.
The
company's plant in Kirovo-Chepetsk made the biggest contribution to
the development investments - $46 million. The main areas of
investment in the plant included building facilities for the
production of new products, as well as reconstruction of existing
facilities to increase production of mineral fertilizers and chemical
products. In particular, work was continued on the project to create
a new product, calcium nitrate. Another completed project was the
increase in the capacity of one of the two units of nitric acid,
which had originally started in 2012. Work was begun to increase the
capacity of the second nitric acid unit and work continued to
increase the capacity of the ammonia unit.
The
investments by the "Azot" plant in Berezniki totalled $41
million. The main areas of investment were projects aimed at
increasing output and reducing raw material consumption. Major work
was carried out on units of production of ammonia, urea and nitric
acid. $26 million was spent on the development of the plant in Perm.
Most of the funds were allocated to a large-scale programme of
modernization of the ammonia unit. The implementation of this project
will increase production and reduce raw material consumption. The
total capital investments of the plant in Voskresenks amounted to
more than $13 million, which was spent on the development of new
products.
The
company's major infrastructure project for the year was the
completion and launch of the fertilizer handling terminal at the port
of Riga in the fourth quarter of 2013. The terminal has a capacity of
2 million tonnes per year. The total investment for this project was
about $78 million, $34 million of which was spent in 2013. Also in
2013, the company continued increasing the number of units in its own
rolling stock, extending its life and modernizing it.
Dmitry
Konyaev, CEO of URALCHEM OJSC, commented, "In 2013, URALCHEM
continued to implement a long-term investment programme aimed at the
technical upgrade of existing facilities. The main goal of the
programme is to increase production and to improve the efficiency of
technological processes, reducing rates of raw materials consumption
and improving the environmental safety of production."
PR
department
URALCHEM,
OJSC
Tel:
+7 (495) 721 89 89
Email:
pr@uralchem.com
URALCHEM,
OJSC is one of the largest producers of nitrogen and phosphate
fertilisers in Russia and the CIS with production capacities of over
2.5 million tonnes of ammonium nitrate, 2.8 million tonnes of
ammonia, 0.8 million tonnes of MAP and DAP, 0.8 million tonnes of
complex fertilisers and 1.2 million tonnes of urea. URALCHEM, OJSC is
the second largest ammonium nitrate producer in the world and number
one in Russia, the second largest producer of nitrogen fertilisers in
Russia. Key production assets of URALCHEM, OJSC include Azot Branch
of URALCHEM, OJSC in Berezniki, Perm Region; OJSC Minudobrenia, Perm;
MFP Kirovo-Chepetsk Chemical Works, OJSC Branch in Kirovo-Chepetsk,
Kirov region; Voskresensk Mineral Fertilisers, OJSC in Voskresensk,
Moscow region.
Some
of the information in this press release may contain projections or
other forward-looking statements regarding future events or the
future financial performance of URALCHEM. We wish to caution you that
these statements are only predictions. We do not intend to update
these statements and our actual results may differ materially from
those contained in our projections or forward-looking statements,
including, among others, the achievement of anticipated levels of
profitability, growth, cost and synergy of our recent acquisitions,
the impact of competitive pricing, the ability to obtain necessary
regulatory approvals and licenses, the impact of developments in the
Russian economic, political and legal environment, financial risk
management and the impact of general business and global economic
conditions.
