OREANDA-NEWS. September 27, 2011. Maxam-Chirchiq open joint stock company is planning to commission capacities on production of low-density ammonium nitrate in October 2011.

The construction-assembly works on organization of production of low-density ammonium nitrate is close to completion at Maxam-Chirchiq.

The project is implemented in line with the presidential resolution “On programme of measures on speeding up construction and utilizing production of new types of chemical products” from 11 March 2009 in cooperation with Maxam Corp. S.A.U. (Spain).

Currently, foreign partner supplied equipment and materials for US.63 million. Specialists of the company underwent training in France.

The enterprise will be commissioned in October. It is planned to produce 15,000 tonnes of low-density ammonium nitrate by the end of 2011 for 3.94 billion soums. All products will be exported.

The designed capacity of the plant is 60,000 tonnes. It is expected that annual volume of exports will reach 55,000 tonnes.

The project cost is US.4 million and it is financed due to own resources of Maxam Corp. within its investment obligations, which it undertook at purchase of Maxam-Chirchiq assets. The project payback term set at about six years.

Maxam-Chirchiq OJSC, former Elektrohimprom, was commissioned in 1940 and specializes on production of ammonia, ammonium nitrate, and carbamide. MaxamCorp S.A.U. purchased 49% stake at Elektrohimprom for US million in 2007. The company undertook obligation to invest US million in next five years. The charter capital of the company is 24.996 billion soums.

Maxam-Chirchiq is leading chemical enterprises in Uzbekistan, which produces 30 types of goods. The company realizes its products in internal market and exports to the countries of the CIS, European Union, USA, Latin America, and Australia.