IN THE FIRST 9 MONTHS OF 2016, TOAZ PRODUCED OVER 2.24 MILLION TONNES OF AMMONIA, INCREASED ITS OUTPUT BY 8.9%

JSC Togliattiazot (ToAZ), the largest ammonia manufacturer in Russia, announced operational results for the 9 months, ending 30.09.2016.

The overall ammonia production over the period was 2,240,000 tonnes, which is 8.9% higher than the figure recorded in the same period of 2015. The overall urea production was 434,000 tonnes, which is 6.9% higher than in the corresponding period in 2015.

The amount of capital investments in the first 9 months of 2016 reached RUB 4 billion, increasing by almost 1/3 year on year.

Commenting on the results of the company’s production activity, Vyacheslav Suslov, CEO of CJSC Corporation Togliattiazot, said: “The ongoing implementation of strategic plans for modernization allows ToAZ to extend its production program. Unfortunately, we have to limit shipment volumes due to the level of prices for our products in international markets and to actions of Ukraine that result in the increase of transit costs, which affects our profitability in the current economic situation. Nevertheless, the production results at the end of 3 quarters of 2016 show that we were right to go on with the investment program. It will allow ToAZ to face the growth phase as a completely renewed company, but still a leader in the Russian and international markets.”