REG-PJSC PhosAgro: PhosAgro Completes RUB3.2bln Balakovo Investment Project

PhosAgro PAOAnnouncement

14/09/2018 15:35

For Immediate Release   14 September 2018 

PhosAgro Completes RUB 3.2 Billion Investment Project at Balakovo

PJSC PhosAgro (Moscow Exchange, LSE: PHOR) ("PhosAgro", the "Company"), one of
the world’s leading vertically integrated phosphate-based fertilizer
producers, has commissioned an ammonia pipeline from the existing
Tolyatti-Odessa pipeline to the liquid ammonia storage facility at JSC
Apatit’s Balakovo branch. Investment in the pipeline totalled RUB 524
million and was financed from the Company’s own funds.

The commissioning ceremony for the pipeline was attended by PhosAgro CEO
Andrey Guryev, Saratov region Governor Valery Radayev and regional Industry
and Energy Minister Andrey Kulikov, JSC Apatit CEO Mikhail Rybnikov, PJSC
Transammiak CEO Andrey Ivanov, Director of JSC Apatit’s Balakovo subsidiary
Alexey Gribkov, and head of the Balakovo district Alexander Solovyov.

“Today marks a milestone not just for this facility but for the whole of
PhosAgro,” Andrey Guryev said during the ceremony. “The completion of this
project has helped to resolve a number of key issues for our future production
growth. First of all, the ammonia pipeline is the most reliable and also
flexible means to ensure uninterrupted ammonia supplies to the facility.
Alongside the previously constructed liquid ammonia storage facility, the
production site now has a modern solution that will enable it to function
continuously while maintaining maximum output. We have also reduced our
dependence on the road transport infrastructure, and significantly increased
our technological and environmental security. The ammonia pipeline will be a
significant factor in the long-term development of Balakovo.”

The commissioning of the pipeline will reduce ammonia transportation costs and
ensure high product quality. It will also allow for increased operational
automation and process continuity, as well as reduced environmental impact.

In September 2017 PhosAgro launched an extensive programme of upgrade works at
the Balakovo site to increase production capacities and operational
efficiency. Work was completed in August 2018, and total investment volumes
exceeded RUB 2.7 billion.



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