The mineral and chemical company Eurochem is Russia's largest producer of mineral fertilizer and one of the top three European and top ten world companies of this kind.
The company brings together extractive, processing and logistical companies and a marketing network in various parts of the world. Its turnover in 2009 exceeded $2.3 billion ($4.5 billion in 2008). It employs 20,000.
Under Eurochem's strategy, until 2014 $4.6 billion will be invested in production development and in new capacity.
The main production units that comprise the holding are:
- Nevinomyssky Azot (Stavropol Territory);
- Novomoskovskaya Joint Stock Company Azot (Tula Region);
- Kovdorsky Ore-dressing Plant (Murmansk Region);
- the industrial group Phosphorite (Leningrad Region);
- Eurochem -Belorechenskiye Mineral Fertilizer (Krasnodar Territory);
- Lifoza AB (Lithuania, European Union).
Eurochem Volga Kaliy is a subsidiary company of Eurochem created to develop the Gremyachinsky Potassium Salt Deposit (Volgograd Region) and to build an ore-dressing plant based on the deposit.
At present Russia's only operating potassium deposit is located in Verkhnekamsk. The world's main potassium reserves can be found in only seven countries, while potassium fertilizer is used in more than 100 countries. Gremyachinskoye will be the second operating deposit in Russia. Its proven ore reserves account for 1.6 billion tons of high-quality ore.
The Eurochem project in the Volgograd Region is the company's largest investment project at 85.5 billion roubles, of which more than 15 billion roubles have been invested already.
The project was launched in 2005 with the purchase, at an auction, of a license to develop the Gremyachinsky field.
With the launching of the ore-dressing complex Eurochem will become Russia's biggest and the fourth biggest company in the world producing a range of mineral fertilizers: nitric, phosphoric and potassium.
The new enterprise will be launched in two phases:
- 2013, first phase with a capacity of 2.3 million tons of KCL a year;
- 2016, second phase, bringing the capacity to 4.6 million tons of KCL a year.
Mining and engineering organizations from South Africa, Germany, the Czech Republic, Canada and the Republic of Belarus are taking part in the project along with Russian contractors.
The development of the Gremyachinsky field will saturate the domestic market with potassium and strengthen Russia's position in the international market.
It is expected to pay more than 10 billion roubles a year in taxes. The launch of production will turn the Volgograd Region from a subsidized into a net contributor.
The company will create 3000-4000 new jobs, and, considering related industries and services, up to 30,000-40,000 new jobs.
Eurochem builds housing for its employees and their families. For the first phase of the enterprise, 90,000 square metres of housing will be built and up to 150,000 square metres, with the second stage included. Assembly of unique domestic equipment at the housing construction plant created for this purpose will ensure the low cost of new housing. An apartment block for 60 families has been built, along with the first section of a cottage settlement, a hall of residence, a builders' community, administrative and service buildings.
The main stages of geological prospecting have been completed, mine shafts are being dug and preparation for the start of the construction of the ore-dressing plant is underway. Many of the necessary production, storage and administrative facilities have been built.