PRESS: UralChem to boost fertilizer output to 7.3 mln tns by 2025

MOSCOW, Nov 14 (PRIME) -- Russian fertilizer producer UralChem expects that its fertilizer production will grow to 7.3 million tonnes within five years from 6.452 million tonnes in 2018, CEO Sergei Momtsemlidze told Kommersant business daily in an interview released on Thursday.

“We have already approved projects for niche products worth 0.5 million tonnes, which means doubling the volume of their production. But in general, by the end of 2025 we want to reach the level of about 1.5 million tonnes. That is, total fertilizer production within five years will amount to 7.3 million tonnes,” Momtsemlidze said.

In 2019, the company’s output will amount to around 6.45 million tonnes, he also said.

Momtsemlidze also said that the company intends to follow new trends in agriculture.

“Our goal is to increase the market share in Russia in agriculture from 13% to 16% by 2025, and from 31% to 35% in industrial production. According to our strategy, taking into account digitalization, the company's EBITDA growth will amount to around $230 million,” he said.

The company is holding talks on refinancing payments on debts in 2020, Momtsemlidze also said.

“At present, the debt is slightly below U.S. $4 billion. We make all payments on schedule and have never violated them. We invest part of free funds in maintenance of capacities and part in development of new products,” he added.

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