Spanish Maxam to invest in Uzbek chemical enterprise modernization

Business Materials 27 August 2012 18:18

Uzbekistan, Tashkent, Aug. 27 / Trend D.Azizov /

The Spanish MAXAM Corp S.A.U. in 2012-2013 will invest $15 million in the modernization of ammophos production on the Uzbek-Spanish joint venture Ammophos-Maxam, an Uzhimprom source told Trend on Monday.

The project provides for expanding the ammonium production lines by 42,500 tons per year by replacing old equipment and the introduction of energy saving technologies.

According to the source, the JV plans to begin general construction work later this year, and supply equipment - in the first quarter of next year.

Total project cost is $15 million, it will be fully funded by the Spanish company's direct investment.

Ammophos-Maxam was commissioned in 1969. Ammophos is the largest of the three chemical companies that produce phosphate fertilizers in Uzbekistan. The design capacity allows producing annually more than 338,000 tons of ammophos, 500,000 tons of sulfuric acid and 417,000 tons of phosphoric acid.