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Tolyattiazot is going to increase its carbamide production by 2.5 times to 2.53 million tons per year by 2025. This was said in an announcement of the Company. Tolyattiazot is going to achieve such figure through its ongoing program of upgrading its two operating carbamide production units with a total output of more than RUB 47.5 billion. Furthermore, the commissioning of the third unit with a capacity of 2.2 thousand tons per day is scheduled for 2021, the announcement said. The company also expects to construct the fourth similar unit.
The conflict around TogliattiAzot which occured two years ago is yet to subside. Nevertheless, one of the claims against the enterprise may possibly fall through in the near future. TogliattiAzot’s spokesperson believes that Tringal Equities Inc. the offshore company that is claiming $85 million in damages from JSC TogliattiAzot and ToAz’s Board of Directors has submitted forged documents to the court. According to RBC Daily, a criminal investigation concerning this case will be finished in the near future. Thus, the proceedings in the state arbitration courts with respect to the Tringal Equities Inc. claim may be dismissed and the representatives of this company may face criminal charges.
Rossiyskaya Gazeta3 Апреля
The two claims from the minority shareholders of JSC Togliattiazot (ToAz) the great Russian producer of ammonia and the offshore company Tringal Equities Inc – turned into proceedings in court. The Public Prosecutor’s Office in the Octyabrsky district of Samara suspected that forgery had been committed by the parties who had submitted the statement of claim to court. Forgery is a crime provided for by the 303d article of Criminal Code of the Russian Federation.
We have met with Sergei D. Zamoshkin, OAO TogliattiAzot attorney, in his office. As it would be expected, the office is decorated with the statuettes of Themis. Unfortunately, her appearance is far from the image portrayed in classical mythology. The statuette has been deprived of her sword and scales. Themis has lost her arms up to the elbow, her legs up to the knees and she has even bid farewell to her head.
RBC Daily3 Октября
TogliattiAzot (ToAz) can celebrate a small victory. The Highest Arbitration Court has taken the side of the Togliatti chemical company in the controversial dispute related to the legality of the exchange of the 51% Transammiak shares for 6.1% of TogliattiAzot shares. The suit, which was initiated by Rosimushchestvo, has been approved for a new hearing in the Arbitration Appellate Court. Nevertheless, experts highlight that the the Highest Arbitration Court decision does not mean that ToAz shall win the new trial.
The Avtozavodsky District Court of Togliatti has adjudicated on the illegality of a criminal case initiated against Vladimir Makhlai, the General Direct of TogliattiAzot. Mr. Makhlai was incriminated for tax evasion in 2005. Just before the court ruled to dismiss the criminal case the same decision had been made by the investigating officials. ToAz’s representatives hope that this success will be followed by “closing a similar criminal case related to an alleged tax violation in the period between 2002 to 2004”. Togliatti Department of Internal Affairs, which carried out investigation, made no comment on the case.
There appeared to be some hope for TogliattiAzot (ToAz), which is currently engaged in numerous legal proceedings. The Supreme Arbitration Court has responded to an appeal lodged by ToAz against the decision of the Samara Region Arbitration Court that had ruled that the exchange of the 51% Transammiak shares for 6.1% of TogliattiAzot shares had been invalid. This event has been followed by the Togliatti District Court decision, in which the criminal proceeding against Vladimir Makhlai, the TogliattiAzot Chairman was quashed.