The Board of Directors of PhosAgro, one of the world’s leading producers of phosphate-based fertilizers, has approved the Company’s strategy to 2025.
The strategy to 2025 aims to further expand PhosAgro’s presence in its priority domestic and premium export markets and strengthen its position as a producer of pure phosphate-based fertilizers with low levels of potentially-harmful heavy metals with one of the lowest cash costs of production. The strategy covers the following key areas:
- Further develop efficient, flexible and high-tech production facilities at existing production sites using BATs, digital and innovative solutions, as well as cutting-edge technologies from one of the world’s leading R&D institutes for the fertilizer sector: the Y. V. Samoilov Scientific Research Institute for Fertilizers and Insectofungicides.
- Expand presence in the strategically-important domestic market (through PhosAgro-Region, Russia’s largest distribution network) and in premium export markets
- Upgrade and expand the capacity of the Company’s logistics and port infrastructure
- Adhere to the UN Sustainability Goals
- Meet demand for phosphate-based fertilizers that stand out for their low levels of elements like cadmium and arsenic, which are potentially harmful for human and soil health
PhosAgro Board of Directors Chairman Sven Ombudstvedt said: “PhosAgro has already created significant value for shareholders and other stakeholders through successful investments in sustainable increases in efficiency and production capacity, while also maintaining a solid financial position, paying out competitive dividends and undertaking a wide range of social and environmental projects.
Details about PhosAgro’s strategy to 2025 will be disclosed at its Capital Markets Day in the fall of this year.