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Togliattiazot faces huge losses due to closure of Togliatti-Odessa pipeline — Uralchem

Dmitry Tatyanin noted that Uralchem Holding P.L.C., the group's holding company, indirectly owns about 94% of the shares in Togliattiazot

ST. PETERSBURG, June 19. /TASS/. One of the world's largest producers of ammonia, Tolttiazot, is facing huge losses due to the suspension of pumping through the Togliatti-Odessa ammonia pipeline, Uralchem Board Chairman Dmitry Tatyanin said in an interview with TASS as part of the St. Petersburg International Economic Forum (SPIEF).

"Togliattiazot is facing significant losses due to the closure of the Togliatti-Odessa ammonia pipeline. The company has reached the break-even point. Togliattiazot has seven ammonia units, three of which are currently in operation. Of course, such conditions are completely unacceptable for business," he said.

At the same time, according to Tatyanin. "The Russian section of the ammonia pipeline is operational and in good condition."

He noted that Uralchem Holding P.L.C., the group's holding company, indirectly owns about 94% of the shares in Togliattiazot.

Russian Defense Ministry Spokesman Lieutenant-General Igor Konashenkov said earlier on Wednesday that Ukrainian saboteurs blew up the Togliatti-Odessa ammonia pipeline in the Kharkov Region on the evening of June 5.

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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