First stage of Nakhodka fertilizer plant costs 227 bln rubles, one third already constructed

VLADIVOSTOK. Feb 27 (Interfax) - The volume of investments in the first stage of Primorsk Territory-based JSC Nakhodka Mineral Fertilizer Plant (NZMU) totals 227 billion rubles, the company's press service said.

"The total volume of investments in the project [for the first stage] is 227 billion rubles, 77 [billion rubles] of which have already been invested. The project is nearing launch," NZMU COO Victor Grebenyukov said in the statement.

The overall volume of contracts have totaled over 10 billion rubles. More than 160 companies are currently involved in implementing the project.

JSC NZMU is the anchor resident of the Nakhodka advanced special economic zone. Construction began on the first stage in September 2021, with capacity of the first stage to be 1.8 million tonnes of methanol per year, and capacity of the second stage to be 3 million tonnes of urea per year. As previously reported, the volume of private investment in the project overall is planned to be 445 billion rubles. NZMU began building a terminal for export deliveries of products in 2023.

The first stage is scheduled for commissioning in late 2025 to early 2026, with design capacity for methanol to be reached in 2027.

Moscow-based JSC ChemProject is the owner and managing organization of JSC NZMU, and JSC RusChem, formerly JSC Russian Hydrogen, has been the managing organization of JSC ChemProject since February 14.