Moscow – At its meeting today, the Board of Directors of PhosAgro, one of the world’s leading phosphate-based fertilizer producers, reviewed the Company’s progress in implementing its key investment projects.
As reported by PhosAgro CEO Alexander Gilgenberg, the Company is continuing in its systematic efforts to complete the implementation of its development strategy to 2025 across all its production sites. For the second year in a row, the Company will invest some RUB 70 billion. As a result, the following projects have already been implemented this year:
- In March, another stage in the expansion of the aluminium fluoride shop in Cherepovets was completed, increasing output of aluminium fluoride by 4.5 thousand tonnes per year to 79 thousand tonnes.
- In May, gas piston units with a capacity of 28.8 million kWh per year were commissioned in Balakovo as part of a project to expand the Company’s in-house power generation.
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In June, the second process line of the SK-20/1 sulphuric acid plant in Balakovo was put into operation, increasing sulphuric acid production by 750 thousand tonnes per year and enabling the site to meet its sulphuric acid needs in full.
- Between April and June, pilot production of mineral fertilizers began in Balakovo as part of phase 3 of a development project to introduce a flexible system for producing MAP, DAP, NPK and NPS fertilizers using best available technologies. Once all three modernization phases have been completed and full capacity is reached, the facility’s production capacity is expected to increase by nearly 1 million tonnes per year compared with 2024 levels, reaching 3.5 million tonnes of fertilizers in high demand among Russian farmers.
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As part of efforts to expand the Company’s resource base, underground mining of the Rasvumchorr Plateau deposit began in October at the Kirovsk branch of JSC Apatit (part of PhosAgro Group). The new mine will reach its design capacity of 6 million tonnes of apatite-nepheline ore per year in 2034.
- In October 2025, a phosphogypsum conversion unit developed by the Samoilov Scientific Research Institute for Fertilizers and Insectofungicides was brought online in Balakovo. The unit enables the conversion of phosphogypsum and fluosilicic acid (by-products of extractive phosphoric acid production) into an ammonium sulphate conversion solution, which is subsequently processed into a granulated product, partially replacing the consumption of sulphuric acid.
The Board of Directors also reviewed the Group’s financial results for the first nine months of 2025, including its interim IFRS consolidated financial statements.
Reports were also heard on occupational health and industrial safety at PhosAgro Group companies, on the monitoring of key risk management in 3Q 2025 and on key aspects of cybersecurity efforts at PhosAgro Group production sites. The Board postponed consideration of the Company’s development strategy to 2030 until one of its upcoming meetings.
In addition, the Board approved related-party transactions concluded by the Company, reviewed reports from the chairs of Board committees on the work of those committees in 3Q 2025 and discussed arrangements for the Board’s 2025 self-assessment.