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PhosAgro Plans New Plant

PhosAgro could invest as much as $2.5 billion by 2015 in a facility to process natural gas into soil nutrients and plastics, chief executive Maxim Volkov said.

The company, which owns fertilizer plants in Cherepovets, northwestern Russia, is seeking an additional 2 billion cubic meters of gas a year for the project from Gazprom, Volkov told reporters Monday at a United Russia conference in the city. Gazprom's Nord Stream pipeline passes through the region.

PhosAgro plans to process heavy fractions of gas that are now being wasted, Volkov said. This may be done in cooperation with petrochemicals producer Sibur Holding, he said.

(Bloomberg)

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