Ameropa to invest $200m in fertilizer upgrade at Romania's Azomures

29 March 2012 11:22  [Source: ICIS news]

BUCHAREST (ICIS)--Swiss grain and fertilizer trader Ameropa Holding plans to invest $200m (€150m) in the next four years to refurbish Azomures' fertilizer units in Targu Mures, Romania, the company said on Thursday.

The investment is mainly aimed at increasing the capacities of the company’s ammonium nitrate (AN) and urea units, and to bring it in line with EU and local environmental directives, said Ameropa.

“We are already in advanced discussions with different equipment producers but more details will be offered in the coming two months," said Ameropa.

Azomures is Romania's largest fertilizer producer and has AN and calcium ammonium nitrate (CAN) units that each produce about 300,000 tonnes/year.

The acquisition of a majority shareholding in Azomures by Ameropa Holding – through its subsidiary Pelican Fertilizers - was finalised on 22 March.

Pelican Fertilizers is a subsidiary wholly owned by Ameropa and incorporated under the laws of Switzerland. Ameropa is a grain trader in Romania through its cereal storage company.

Azomures produces AN, CAN, urea, complex nitrogen-phosphorous-potassium (NPK) fertilisers and melamine.

($1 = €0.75)

By: Marian Chiriac
+44 20 8652 3214

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