OREANDA-NEWS  On 07 October was announced, that the Rivneazot chemical plant (RAZT), a major producer of ammonia and nitrogen fertilizer based in Rivne, intends to invest USD 1 billion into construction of new workshops till 2017.

Mykhailo Zabluda, director general of the company announced this to the press at the conference.

According to Zabluda, it is planned to build five new workshops on this funds: two workshops for ammonia nitrate production, two for carbamide production and one for production of carbamide and ammonium nitrate blending.

"At that, ammonium nitrate production will rise in two times and nitric acid in 1.5 times," Zabluda said.

Rivneazot ended 2007 with net profits of UAH 141.698 million.

In 2007 the net revenues of the plant increased by 47.91% or UAH 331.1 million to UAH 1,022.2 million as compared with 2006.

53.86% of the enterprise's shares belong to the RAAM Beteiligungsverwaltungs (Austria), 26.01% are owned by the Cheminvest Aktiengesellschaft (Switzerland) and 13% are owned by the Univita Inc company (Virgin Isles).