Acron invest $219 mn large-scale projects in Novgorod
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Acron to invest $219 mn on large-scale projects in Novgorod

9:44 AM, 11th June 2019
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VELIKY NOVGOROD, RUSSIA: Acron Group and the Government of Novgorod region executed a letter of intent to implement investment projects in Novgorod region. The document was signed by Acron’s CEO Vladimir Kunitsky and Governor of Novgorod Region Andrey Nikitin. 

Acron plans to invest a total of $219 million in large-scale projects. Some of the projects are related to upgrading existing capacity at the Ammonia-4, Urea-6, AN and NPK units. Acron also intends to build new nitric acid units, as well as urea granulation and calcium nitrate (CN) units at its production site in Veliky Novgorod. 

“We are currently in the active phase of implementing the Group’s updated development strategy through 2025, which we adopted in 2017. In 2019, we will commission new nitric acid units and a urea prilling unit at our production site in Veliky Novgorod. By 2020, Acron plans to launch additional capacity there, which will create new jobs and contribute to the region’s social and economic development. We are grateful to Novgorod region’s administration for building a favourable investment climate and supporting our projects,” said Alexander Popov, Chairman of Acron’s Board of Directors.

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