EuroChem Investments Praised by Russian Deputy Prime Minister
OREANDA-NEWS. October 3, 2011. On September 29, Russian Deputy Prime Minister Igor Sechin toured EuroChem’s Nevinnomysskiy Azot plant. The visit mainly centered on the investment projects being implemented at
Once ramped-up, Nevinnomysskiy Azot’s melamine line will have the capacity to fully meet the domestic demand and substitute imports. Now in its final phase, the construction of the line required investments of approximately 9 billion roubles. Production is scheduled to start in March 2012.
“This is a spectacular example of a resource-based economy reversal, whereby raw materials are converted into an advanced product that until now could only be imported. Moreover, the company gained expertise at a level that exists in just four other companies in the world. Additional jobs and value are being created, while helping to resolve social issues.” Sechin stated.
Melamine is a valuable component in environmentally friendly polymeric compounds such as plastics, varnishes and glues, and is key to paint and coating production and the woodworking industry.
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