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MOSCOW, January 21 (Itar-Tass) - PhosAgro Cherepovets, part of the fertilizer producer PhosAgro Group, will supply the major Russian aluminium producer, RUSAL, with aluminium fluoride worth 20.062 billion roubles (about $608 million) till late 2034, says PhosAgro’s report.
Over the same period RUSAL will supply PhosAgro Cherepovets with aluminium hydroxide worth 6.449 billion roubles ($195 million) for production of aluminium fluoride.
Both contracts were approved at the extraordinary meeting of PhosAgro Cherepovets’ shareholders late in December 2013. A long-term agreement was signed in February 2012 and is intended for further modernization of PhosAgro Cherepovets and a gradual increase of aluminium fluoride supplies to RUSAL’s facilities from 23,000 tonnes in 2012 to 35,000 tonnes in 2016.
Investments in expansion of aluminium fluoride production by 12,000 tonnes over 2012-2015 are estimated at 2.2 billion roubles (about $67 million).
PhosAgro is a Russian vertically integrated company, one of the world’s major producers of phosphate-based fertilizers. The company’s main business is production of phosphate fertilizers, feed phosphates and high-grade raw phosphate (with 39 percent and more concentration of P2O5) - apatite concentrate, ammonia and nitrogen fertilizers.