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17.11.2009
Riga Commercial Port enters into agreement with Uralchem

November 17, 2009

Riga

 

Riga Commercial Port (RTO) has entered into a cooperation agreement with Uralchem Freight Limited, a daughter enterprise of the Russia-based united chemical company Uralchem. The agreement provides for the establishment of Riga Fertilizer Terminal (RFT), a joint stock company to be founded by RTO and Uralchem.

The aim of setting up the joint company is to build a terminal for handling bulk cargos of mineral fertilizers in the Riga port territory. With the planning work already underway, the new terminal is expected to commence operations in 2011. The annual cargo handling capacity in the first stage of terminal development is estimated up to 2 million tons.      

“The establishment of RFT and subsequent construction of the new terminal facilities to handle mineral fertilizers in the port of Riga will provide Uralchem with guaranteed transshipment volumes of export produce for the company’s key markets”, says Dmitry Osipov, the Chief Executive Officer of Uralchem.   

Uralchem is one of the leading companies in the mineral fertilizer segment in the Russian Federation, the CIS (Commonwealth of Independent State) and Eastern Europe. In Russia, Uralchem is the second largest Russian producer of nitrogen fertilizers and third largest producer of phosphate fertilizers. In 2008 Uralchem production amounted to over 4.4 million tons. Company products are exported to over 65 countries. For more information see corporate website at: www.uralchem.com

Marketing and Public Relations division of RTO.