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Acron Will Invest Over 1,3 Billion USD In Constructing a New Complex in Novgorod Region

PJSC “Acron”, Russian Ministry of Economic Development and Ministry of investment policy of Novgorod region signed a trilateral agreement on protection and encouragement of capital investments. It guarantees that during 20 years no acts that could worsen the investor's position during the construction of the Ammonia and Urea complex will be applied either on federal or on regional level. The document was signed by CEO of PJSC “Acron” Vladimir Kunitsky, first deputy minister of economic development of the Russian Federation Andrey Ivanov and minister of investment policy of Novgorod region Denis Nosachev.

The largest investment project in the region’s history provides for the organization of additional production of ammonia and urea. The amount of investment will be 1,4 billion USD. It is planned to start implementing the project is planned in 2021 and to start production in the second half of 2025. The enterprise aims to reach full production capacity by 2026. As a result of implementing the investment project, more than 300 jobs will be created.

“This investment project is very significant for the economy of Novgorod region. Its implementation will ensure inflow of private investment into the region's economy, as well as additional tax revenues to the consolidated budget. We will provide the investor with comprehensive support. The terms of the agreement are a guarantee of stability for the investor, the so-called "stabilization clause". I hope that in the near future the new investment promotion tool will be applied to other investors as well, ” said Evgeny Bogdanov, deputy chairman of the government of Novgorod region.⠀

The Acron Group is one of the world's largest producers of mineral fertilizers, has its own transport and logistics infrastructure and sales networks. Acron's products are supplied to 78 countries around the world.

Based on materials of ministry of investment policy of Novgorod region
23 декабря 2020 11:43:00
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