Nitrogénművek to complete investment by mid-2017

Telco

Hungarian fertilizer manufacturer Nitrogénművek expects to complete its long-term HUF 140 billion investment project, started in 2004, at its plant in Hungary’s Pétfürdő by the promised deadline of summer 2017, President and CEO László Bige said yesterday, according to Hungarian news agency MTI.

The project is being realized in two phases. The first phase, which ran from 2004 to 2007, involved the construction of a nitric acid plant and cooling tower in an investment of HUF 30 bln. The second phase, launched in 2011 and currently ongoing, will conclude with renovation of an older CAN plant, as well as constructing a new neutralization plant and dolomite plant, through an investment of HUF 110 bln. 

The company has 13 bases in the country and is planning to raise this number to 40 within the next two years, Bige noted.

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