Moscow, Russia – 16 November, 2009 — URALCHEM, OJSC, (“URALCHEM”), one of the largest producers of nitrogen and phosphate fertilizers in Russia and the CIS, today announced the establishment of the joint venture SIA “Riga fertilizer terminal” between its subsidiary “URALCHEM FREIGHT LIMITED” and SIA “Rigas tirdzniecibas osta”.
The joint venture was established in order to construct a dry bulk fertilizer terminal in the port of Riga. Engineering drafting of the terminal’s loading complex has already begun. The terminal is intended to be fully operational in 15 month’s time, with annual shipment capacities of 2 million tonnes.
Dmitry Osipov, Chief Executive Officer of URALCHEM, OJSC commented: “The SIA “Riga fertilizer terminal” joint venture and the consequent opening of our own bulk fertilizer shipment terminal will allow URALCHEM to secure guaranteed shipment volumes of our products, destined for the company’s key target export markets”.