OREANDA-NEWS. February 07, 2011. Stirol, the major Ukrainian fertilizer producer controlled by Ostchem Holding (Dmitriy Firtash), plans to launch ammonia workshop N1 by October 2011, Interfax-Ukraine reported on Feb 4 with reference to Dmitriy Firtash. The latter also confirmed his plans to load Stirol’s facilities by 100% by the end-2011.

Millennium Capital considers the news as NEUTRAL for Stirol. Ammonia workshop N1 has not been in service over the last several years. Therefore, we suppose its launch may hit technical snags. According to recent reports, Stirol launched an ammonia nitrate workshop at the end of Jan, which had been idle for over 18 months previously. The commissioning of the workshop had been postponed several times over the last four months due to technical problems. In general, Firtash’s intention to load Stirol by 100% by the end-2011 is quite feasible.