DGAP-News: Linde AG / Key word(s): Contract
Linde AG: Linde to build large ammonia plant in Russia
28.05.2013 / 08:30
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Linde to build large ammonia plant in Russia
- 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.
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.
Further information:
<pre>
Media Relations Investor Relations
Uwe Wolfinger Dr Dominik Heger
Phone: +49.89.35757-1320 Phone: +49.89.35757-1334
Dr Thomas Hagn Lisa Tilmann
Phone: +49.89.35757-1323 Phone: 49.89.35757-1328
</pre>
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Language: English
Company: Linde AG
KlosterhofstraÃe 1
80331 München
Germany
Phone: +49.89.35757-01
Fax: +49.89.35757-1075
E-mail: info@linde.com
Internet: www.linde.de
ISIN: DE0006483001
WKN: 648300
Indices: DAX
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, München, Stuttgart; Freiverkehr in
Hannover; Terminbörse EUREX; SIX
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DGAP-News: Linde AG: Linde to build large ammonia plant in Russia
| Source: EQS Group AG