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Uralchem no longer considers possibility of building plant in Angola

Answering a question about the possibility of acquiring new foreign assets for companies, Uralchem Board Chairman Dimitry Tatyanin said, "We are always ready to work with partners from all over the world"

ST. PETERSBURG, June 19. /TASS/. Uralchem has decided to end the project to build a plant for the production of nitrogen fertilizers in Angola and is not exploring new investment opportunities for it at the moment, Uralchem Board Chairman Dmitry Tatyanin Dimitry Tatyanin said in an interview with TASS.

"Regarding the ammonia and urea plant in Angola, the decision was made to terminate the project at the pre-investment stage. No new investment opportunities are currently being considered," he said.

Answering a question about the possibility of acquiring new foreign assets for companies, Tatyanin said, "We are always ready to work with partners from all over the world. However, this does not mean that mergers and acquisitions represent the only avenue we are willing to pursue in working with overseas markets. We do not have any additional information regarding potential acquisitions at this time."

At the end of 2020, co-owner of the company Dmitry Mazepin told TASS that Uralchem considers it unprofitable at current prices for nitrogen fertilizers. The company considered the possibility of building a plant with a capacity of about 1.2-1.3 mln tons of urea.

The 26th St. Petersburg International Economic Forum (SPIEF), Russia’s showcase annual economic and business event, was held on June 14-17. The theme of the forum was: "Sovereign Development as the Basis of a Just World: Joining Forces for Future Generations." TASS was the official information partner of the event.

The full text of the interview is available at: https://tass.com/economy/1634835.

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