Russia's EuroChem to build €65 million ammonia terminal at Sillamäe ({{commentsTotal}})

EuroChem fuel tanks at the Port of Sillamäe.
EuroChem fuel tanks at the Port of Sillamäe. Source: Mihkel Maripuu/Postimees/Scanpix

Russian fertilizer manufacturer EuroChemGroup AG is to build an ammonia terminal in the Northeastern Estonian city of Sillamäe by the end of the year for €65 million.

"This December, we will build an ammonia terminal for one million tons at Sillamäe at a cost of €65 million," EuroChem CEO Dmitry Strezhnev told reporters on the sidelines of the Sberbank CIB Metals, Mining and Fertilizer conference in Moscow.

The terminal is being built for ammonia to supply a plant in Kingisepp that the company plans to launch in the fourth quarter of this year, he added.

Sillamäe City Government on March 1 granted EuroChem a building permit for the terminal, which was contested by VKG Ehitusvõrgud OÜ. The latter stated that they believed the object to have been designed illegally.

Tartu Administrative Court on April 9 rejected the application for preliminary legal protection.

Last fall, EuroChem projected the cost of the project to total €15 million.

The liquid chemicals terminal at Sillamäe is operated by EuroChem subsidiary EuroChem Terminal Sillamäe AS, which earned a profit of €2.5 million euros on €5.7 million in sales in the last financial year. The company employed on the average 26 people, translated into full-time jobs, with wage costs totaling €466,000.

The core business of EuroChem Terminal Sillamäe AS is the handling of petrochemical raw materials. Its sole owner is EuroChem Group AG.

Editor: Aili Vahtla

Source: BNS



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