August 17, 2011 15:04
SIBUR-Mineral Fertilizers to increase production of caprolactam by 18% in 2011, nitrogenous products - 5%
MOSCOW. Aug 17 (Interfax) - OJSC SIBUR-Mineral Fertilizers, which is part of the SIBUR Holding, plans to increase its production of ammonia this year by 2% in comparison with 2010 to 1.6 million tonnes, nitrogenous products - 5% to 2.7 million tonnes and caprolactam - 18% to 115,000 tonnes the company said in a press release.
SIBUR-Mineral Fertilizer' enterprises produced over 843,000 tonnes of ammonia in the first half of 2011, 1.36 million tonnes of nitrogenous output (ammonium nitrate, carbamide and ammonium sulfate) and 56,000 tonnes of caprolactam. Output of these products went up by 5%, 3% and 1% year-on-year, respectively.
In order to raise operational efficiency and boost total production, the company is implementing a long-term investment program for modernizing its main production capacity and optimizing technological processes. SIBUR-Mineral Fertilizers might have 4,500 tonnes of ammonia output a year thanks to its reequipping production capacity.
The company plans to increase production of carbamide to 180,000 tonnes a year by 2014. In addition to modernizing its current production line, the company is looking into organizing new production facilities in porous ammonium nitrate, as well as nitrogenous products with high valued added.
SIBUR Holding plans to sell SIBUR-Mineral Fertilizers by year's end.
SIBUR-Mineral Fertilizers owns 51% of the shares in Perm-based OJSC Mineral Fertilizers (RTS: MINU), 95%in Kemerovo-based OJSC Azot (RTS: AZKM) and 100% in Angarsk Fertilizer Plant (AATZ).
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