30 May 2014
OSTCHEM to invest UAH 19 million in modernization of ammonia production shop at Cherkassy Azot
Cherkassy Azot, a part of OSTCHEM holding, has commenced implementation of an investment project related to modernization of one of its ammonia production units, the А-3 shop. The modernization will allow the company to improve production reliability and reduce production cost. The total investment will amount to UAH 19 million.
Cherkassy Azot contracted Koch-Glitsch (USA) for the development of modernization and overhaul project, and for equipment supply. Supervision and diagnostics of the first technological line of equipment of the A-3 shop will be conducted by technicians of DIEKS (Dnipropetrovsk, Ukraine).
“OSTCHEM implements modernization and scheduled overhauls projects at its producers every year between May and September – the period when demand for nitrogen fertilizers falls. This year, we started with modernization of the A-3 ammonia shop. The investments of UAH 19 million will allow for reduction of energy consumption and increase the level of production safety”, commented Vitaly Sklyarov, Chairman of the Board of Cherkassy Azot PJSC.
In 2013, partial modernization of the A-3 ammonia shop also brought considerable reduction of energy consumption. The consumption of the natural gas was reduced by 2% which saved the company UAH 76 million.
According to Vitaly Sklyarov, in 2014, the overhauls will allow to minimize the impact of production on the environment.
In 2011-2013, OSTCHEM invested UAH 791 million in development of Cherkassy Azot. The plans for investments in the development of the company in 2014 remain unchanged, as confirmed by Dmitry Firtash, the owner of the Cherkassy Azot, during a teleconference with the company’s employees at the end of April.