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PhosAgro launches 23B ruble Metachem expansion project

PJSC PhosAgro launched an expansion project at its Metachem fertilizer plant in Russia as part of plans to increase output by up to 7% in 2019.

The company said March 26 that it is investing 23 billion Russian rubles, comprising a mix of internal and borrowed funds, with the project scheduled to be completed by 2023.

The expansion includes building an 800,000-tonne-per-year sulfuric acid production unit, a fertilizer production line, liquid ammonia storage, a finished-product storage warehouse and a 25-MW heat energy generation unit.

PhosAgro noted the expansion also covers upgrades to a phosphoric acid extraction unit, which is expected to increase production capacity to 500,000 t/y.

The expansion will increase the company's total phosphate rock processing capacity by 1 million t/y and Metachem's output of commercial products by five times, according to CEO Andrey Guryev.

For the year, PhosAgro expects fertilizer production to grow more than 7% and phosphate-based fertilizer output to increase by nearly 10% compared to 2018.

As of March 25, US$1 was equivalent to 64.08 Russian rubles.