Concern Linde Group and OAO KuibyshevAzot signed a joint venture agreement

SAMARA, May 28. Concern Linde Group / Germany / JSC and "KuibyshevAzot" / Togliatti, Samara Region / signed an agreement to establish a joint venture for the production of ammonia and hydrogen with an investment of 11 billion rubles. This was reported today by the press service of "KuibyshevAzot."

The joint venture will be named "Linda Togliatti Nitrogen," shares of the companies participating in the authorized capital of the joint venture are defined at 50 percent on each side. Project implementation period — 2013-2016 years. The production will be located in the industrial area "KuibyshevAzot." Design capacity — 120,000 Nm3 / h of hydrogen and 1340 tons per day of ammonia.

"The cooperation with Linde Group will have a positive impact on the growth of our facilities for production of ammonia and nitrogen fertilizers, the use of modern technology by Linde will allow us to improve the efficiency and competitiveness through the creation of a new environmentally friendly production with consumption of resources, appropriate the best world standards", — stressed General Director of "KuibyshevAzot" Victor Gerasimenko.

Implementation of the project will also contribute to the modernization and development of the chemical industry in the Samara region, as well as the creation of new jobs.

Linde Group is a world leader in the production of industrial gases and engineering with a total workforce of 63,000 people working in over 100 countries. In 2012, the annual turnover of Linde was 15.28 billion euros.

"KuibyshevAzot" — one of the leading companies of the Russian chemical industry. The company is the leader in the production of caprolactam and polyamide in Russia and the CIS, among the top ten world producers of these products. In 2012, sales of enterprise products was 28.4 billion rubles, the number of employees — 5,000 people.

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