The management of Azomureş Târgu Mureş (AZO) producer ofchemical fertilisers, controlled by several Turkish investors, hasconvened the general meeting of shareholders to approve aninvestment project worth 115m dollars (82m euros), the largestinvestment since the company's privatisation in 1998.
The project entails the modernisation of the main productioninstallations, with a view to boosting capacity and cutting rawmaterial consumption, according to the report published by Azomureşmanagement.
The company will cover around 30m dollars from its own sources,with the rest of 85m dollars to come from banking loans.
The announcement comes as the Economy Ministry is set to decidenext week whether to extend the incentive granted to domesticfertiliser producers of consuming only natural gas from domesticproduction, which is cheaper.
The investments would allow the company to operate significantsavings and improve its profitability, becoming less sensitive tochanges in international prices of chemical fertilisers.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
