TOGLIATTIAZOT ANNOUNCES OUTPUT ACHIEVEMENTS IN 2019
Russia’s largest ammonia producer Togliattiazot (PJSC TOAZ) announces the results of its operations for 2019. In the reporting year, the company produced the all time high amount of ammonia, and also achieved the biggest output of urea over the past 12 years.
In 2019, the production of ammonia, a key product of TOAZ, amounted to 3.019 million tons (in 2018 - 2.754 million tons) - the highest result in the entire 40-year history of TOAZ.
Last year, Togliattiazot also increased its urea production by almost 19 per cent, to 784.6 thousand tons (in 2018 - 659 thousand tons). This figure was a record high for the company over the past twelve years.
Also in the reporting year, TOAZ produced 45,034 tons of urea formaldehyde concentrate (UFC).
TOAZ’s high production results became possible by a large-scale investment program aimed at upgrading of existing and creating new production capacities, carried out since 2012. During this time, Togliattiazot invested more than 47.5 billion rubles (US$ 746 million as of Feb. 13,2020) in updating and developing production.
Dmitry Mezheedov, General Director of CJSC Corporation Togliattiazot, noted: “Outstanding production results for 2019, achieved through the implementation of the strategic program for the modernization of capacities, allow TOAZ to maintain leadership positions in the market. In the coming year, we will continue the construction of the urea production unit N3, modernization and technical re-equipment of existing units in order to ensure their stable and uninterrupted operation. The board of directors set a goal - to increase ammonia production to 4.15 million tons, and I am sure that Togliattiazot will be able to move confidently towards it, retaining leadership in the Russian market and strengthening its position in the world”.
During 2019, overhaul and technical re-equipment of ammonia production unit No. 3 was completed at TOAZ, which made it possible to stabilize the operation of the equipment and reduce the consumption of natural gas per ton of product, works were carried out on both carbamide production units, ammonia production units No. 2 and 5.
PJSC TOAZ continues implementing its key investment project – construction of the third urea production unit with a capacity of 2,200 tonnes per day.
PJSC TOAZ has published its financial performance figures for the 1st half of 2020.
PJSC TOAZ has received a letter from the lawyers of its majority shareholders informing of the decisions that the High Court of Ireland had taken within the case that involved PJSC TOAZ shareholders and is being heard by the Court. In order to inform the public, we publish the bullet points from the letter.