PhosAgro estimates 2019 capital expenditures at 34 bln rbl

MOSCOW, Dec 18 (PRIME) -- Russian fertilizer producer PhosAgro will invest 34 billion rubles in 2019 in the development of mining, processing, including finishing construction of sulfur and nitrogen acid facilities in the city of Cherepovets and a higher phosphorous fertilizers production, CEO Andrei Guryev said, as cited by the company.

It will also invest in extension of the distribution and logistics capacities

Guryev said that the company’s priorities will be the development of the ore segment, processing facilities, including finish of the construction of new sulfur and nitrogen acid facilities in the city of Cherepovets and increase of phosphorous fertilizers production, and also extension of the distribution and logistics capacities.

In 2018, the company spent 32–33 billion rubles, according to a forecast made in October.

(66.6208 rubles – U.S. $1)

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