Translation. Region: Russian Federation –
Source: Phosagro – Phosagro – An important disclaimer is at the bottom of this article.
Moscow. November 20, 2025. The Board of Directors of PhosAgro PJSC, one of the world's leading producers of phosphate-based mineral fertilizers, approved the progress of the company's key investment projects at its meeting today.
As Alexander Gilgenberg, CEO of PhosAgro, reported in his report, systematic work continues at all PhosAgro production facilities to complete the 2025 development strategy. For the second year in a row, the company will invest approximately 70 billion rubles. As a result, the following projects have already been completed this year:
In March, the next stage of development of the aluminum fluoride plant in Cherepovets was completed. Production of aluminum fluoride increased by 4.5 thousand tons per year to 79 thousand tons;
· In May, gas piston units with a capacity of 28.8 million kWh per year were launched in Balakovo as part of a project to develop in-house electricity generation;
In June, the second production line of the SK-20/1 sulfuric acid plant in Balakovo was launched. Sulfuric acid production increased by 750,000 tons per year, making the production complex 100% self-sufficient in sulfuric acid.
In April-June, pilot production of mineral fertilizers commenced in Balakovo as part of the third-stage development project, which involves the creation of a flexible production scheme for MAP, DAP, NPK, and NPS fertilizers using the best available technologies. After completing all three stages of modernization and reaching full capacity, the production capacity of this production complex is expected to increase by almost 1 million tons of product per year (compared to 2024 levels) to 3.5 million tons of fertilizers in demand by Russian farmers.
As part of the ore resource development program, underground mining of the Rasvumchorr Plateau deposit began in October at the Kirov branch of JSC Apatit (part of the PhosAgro Group). The new mine is expected to reach its design capacity of 6 million tonnes of apatite-nepheline ore per year in 2034.
In October 2025, a phosphogypsum conversion plant was commissioned in Balakovo using new technology developed by JSC NIUIF. It processes phosphogypsum and hydrofluorosilicate acid (by-products of wet-process phosphoric acid production) into an ammonium sulfate conversion solution, followed by processing into a granulated product with partial substitution of sulfuric acid.
The Board of Directors reviewed information on the financial results of PhosAgro PJSC for the first nine months of 2025, including the interim consolidated financial statements under IFRS.
Reports were also heard on the status of occupational health and safety at organizations within the same group as PhosAgro, on the results of monitoring the Company's key risk management in the third quarter of 2025, and on key aspects of ensuring cybersecurity at enterprises within the same group as PhosAgro. The Board of Directors postponed consideration of the Company's development strategy to 2030 until a future meeting.
In addition, the Board of Directors approved the transactions concluded by the Company in which there is an interest, reviewed the information from the chairmen of the committees of the Board of Directors of the Company on the work of the relevant committees in the third quarter of 2025 and on the organization of the self-assessment of the work of the Board of Directors for 2025.
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