Formation of joint venture with JSC KuibyshevAzot
On-site project with total investment volume of around EUR 275 million
Deal further strengthens Linde’s position in fast-growing Russian market
Munich, 28 May 2013 – The technology company The Linde Group has formed a joint venture with chemical company JSC KuibyshevAzot to build and operate a large ammonia plant at the Togliatti site in Russia's Samara region. Both partners signed an agreement to this effect on 27 May 2013. The deal will involve a total investment volume of around EUR 275 million. Both companies have an equal stake in the newly formed venture, Linde Nitrogen Togliatti.
"We are proud to team up with our partner to support further expansion of the Togliatti industrial hub," said Professor Dr Aldo Belloni, Member of the Executive Board of Linde AG. "This project not only strengthens our presence in Samara, but also our position as the leading gases and engineering company in the fast-growing Russian market."
The Engineering Division of The Linde Group will construct the new, state-of-the-art on-site plant, designed to deliver exceptional levels of energy efficiency. The plant will have a production capacity of 1,340 tonnes of ammonia per day (tpd). Construction work is scheduled for completion in 2016.
JSC KuibyshevAzot, one of the biggest chemical companies in Russia, plans to expand Togliatti production capacity for caprolactam – a precursor of polyamide plastics – and nitrogen fertilizers. It will need a rising stream of ammonia to support these growth plans.
About The Linde Group
The Linde Group is a world-leading gases and engineering company with around 62,000 employees in more than 100 countries worldwide. In the 2012 financial year, Linde generated revenue of EUR 15.280 bn. The strategy of the Group is geared towards long-term profitable growth and focuses on the expansion of its international business with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment – in every one of its business areas, regions and locations across the globe. The company is committed to technologies and products that unite the goals of customer value and sustainable development.
For more information, see The Linde Group online at www.linde.com
|Dr Thomas Hagn