EuroChem plans to invest $2.5 bln into chemical facility

ST. PETERSBURG, Jun 7 (PRIME) -- Russian fertilizer producer EuroChem plans to invest U.S. $2.5 billion in a chemical facility in the Leningrad Region, the Industry and Trade Ministry said in a statement on Friday.

“EuroChem plans to implement two investment projects to create facilities for production of 1 million tonnes of ammonia, 1.2 million tonnes of carbamide, and 1.7 million tonnes of methanol. Combined investment will stand at $2.5 billion. It will create 250 additional new jobs,” the statement read.

EuroChem CEO Igor Nechayev, Leningrad Region’s Governor Alexander Drozdenko, and Industry and Trade Minister Denis Manturov signed a corresponding special investment contract during the St. Petersburg International Economic Forum.

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