St. Petersburg, Russia, 2 June 2017 – EuroChem Group AG (“EuroChem” or the “Group”), a leading global fertilizer company, announces that MCC EuroChem, its Russian subsidiary, has signed a framework agreement for socio-economic cooperation with the Government of the Astrakhan region in Russia.
MCC EuroChem holds a licence for development of part of the Astrakhan gas condensate field and recently started seismic exploration of this section which has estimated reserves amounting to around 220bn m3 of category C1+C2 gas.
The new agreement creates the necessary framework for MCC EuroChem and the Government of the Astrakhan region to work together on advancing socio-economic development of this region. The regional authorities intend to support the business with the implementation of its potential investment projects in the region by ensuring a supportive investment climate.
The cooperation agreement was signed at the St. Petersburg International Economic Forum.
About EuroChem Group AG
EuroChem is a leading global fertilizer company producing primarily nitrogen and phosphate fertilizers, as well as certain organic synthesis products and iron ore. The Group is vertically integrated with activities spanning mining and hydrocarbons extraction to fertilizer production, logistics, and distribution. EuroChem is currently developing two sizeable potash deposits in Russia with its VolgaKaliy and Usolskiy Potash greenfield projects. Headquartered in Zug, Switzerland, the Group operates production facilities in Belgium, China, Kazakhstan, Lithuania, and Russia and employs more than 25,000 people globally.
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EuroChem Group AG