A new stage of modernization is underway at the Kokand superphosphate plant

Indorama Corporation of Singapore will complete the second stage of modernization of the Kokand superphosphate plant in a year, Spot reports citing the press service of MIIT.

The head of the MIIT, Laziz Kudratov, met with the company’s CEO Prakash Kejriwal on June 26. The parties discussed the implementation of current projects, as well as prospects for the development of cooperation in the textile and chemical sectors.

The launch of the second stage of the Kokand superphosphate plant is scheduled for June 2024, Kejriwal noted. In total, $30 million will be invested in the project, of which $20 million has already been disbursed.

Indorama Holdings acquired a 96% stake in a phosphate fertilizer plant in 2019. At the same time, a subsidiary of Indorama Corporation launched a project to expand the production capacity of the enterprise, in which it planned to invest $ 70 million.

In the summer of 2020, Indorama structures raised $25 million from the IFC and the EBRD to modernize the plant. It was about the introduction of energy-efficient technologies to increase the volume of fertilizer production.

At the beginning of this year, the Singaporean company also formalized the purchase of a state share in the Ferganaazot plant. The purchase cost her $140 million, with the condition that she invest at least $100 million in upgrading its facilities.