Stirol to launch reconstructed ammonia workshop by October 2011

Ukrainian businessman Dmytro Firtash, the owner of over 90% shares of Stirol (UX: STIR UK), said at a press conference on Friday that the company would launch a renovated ammonia workshop by October 2011 after 6-year break, Interfax reported. At end-2010, Stirol was operating about 50% of its capacity, according to Firtash. He said the plant was targeting to load 100% of capacity in 2011. In 2010, Stirol’s urea production declined 33% y-o-y to 376.5 ths mt while ammonia output increased 18% y-o-y to 622.5 ths mt. In January 2011, Stirol restarted producing ammonium nitrate, which it had suspended since August 2009 due to high gas prices.