EuroChem Invests 4.5 Billion Roubles in Tula Region
Filed Under: Business, World | Posted: 01/30/2013 at 11:02AM
Comments | Region: Russian Federation
By 2015, Russia’s largest mineral fertilizer EuroChem will invest up to 4.5 billion roubles ($150 mln. USD) in the innovative development of the economy in Tula region.
The four-year investment program, launched in 2011 and covering 7 major areas, is focused on increasing energy efficiency, eliminating pollution, and the effective processing of raw material. The key element of the investment plan has been the upgrade and rebuilding of Novomoskovskiy Azot (NAK Azot), the nitrogen segment of EuroChem located in Novomoskovsk, Tula Region.
This is not the first EuroChem’s investment in the Novomoskovsk segment. In December 2009, EuroChem launched Russia’s first granulated urea production line at NAK Azot. After completion of the second line in September 2010, the daily capacity of the plant reached 4,350 ton/day.
According to analysts, the four–year investment plan is vital for Tula Region’s economical development, employment and modernization of the region.