26 October 2012 15:48 [Source: ICIS news]
MOSCOW (ICIS)--Russia-based holding company Phosagro on Friday launched a new facility to produce urea in Cherepovets, according to a statement from the country’s governmental press-service.
Russian Prime Minister Dmitry Medvedev inaugurated Phosagro's new facility, which can produce 500,000 tonnes/year of urea, as well as a new 32 megawatt power plant.
"This is a first project in Russia that integrates a fertilizer production facility and an electricity production unit," Medvedev said.
The project cost Roubles (Rb) 7.6bn (€187m) to be implemented, the statement said.
PhosAgro controls Azot Cherepovets and Ammophos in the Vologda region of northern Russia, Balakovo Mineral Fertilizers in the Saratov region of central Russia, as well as the Apatit mining company in northern Russia.
(€1 = Rb40.56)
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