PhosAgro says 2022 fertilizer output to rise by 5% to 11 mln tns

MOSCOW, Dec 16 (PRIME) -- Russian fertilizer producer PhosAgro expects fertilizer production to increase by 5% to more than 10.9 million tonnes in 2022, the company said in a statement on Friday.

The company confirmed an earlier guidance of fertilizer production increase by 6.7% on the year to 8.1 million tonnes in January–September.

"The ready product output dynamics allows the company to improve the output forecast at the end of the year: it can exceed 10.9 million tonnes, an almost 5% growth on the year," the company said.

PhosAgro will spend more than 250 billion rubles in investment in five years and 64 billion rubles in 2022, the company said.

(64.3015 rubles – U.S. $1)

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