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Azot Cherkasy Abandons Plans to Overhaul its Carbamide M2 Plant

Azot Cherkasy Abandons Plans to Overhaul its Carbamide M2 Plant

2 November 2008

Azot Cherkasy’s (AZOT: Susp) press secretary said the company will not increase the capacity of its carbamide M2 plant as planned, saying that everything changed following the rises in the price of gas. According to its modernization program, capacity at AZOT will be increased on average by 48.15% to 1,600 mt/day by 2008. The company is currently overhauling one of its three ammonia facilities, and a two-week overhaul of its M6 plant will begin on Nov. 5. Vladimir Nesterenko: As expected (see our Oct. 31 report for more details), nitrogen fertilizer producer’s modernization plans are being put on hold (at least partly, in this case) due to uncertainty in the gas price beyond 2007. It is reasonable for producers to increase urea capacity even as the gas price increases, as it will help the companies to support their profitability.

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