Uralchem signs MoU with Rashtriya Chemicals, NFL, IPL to build major urea plant in Russia

Uralchem JSC, a leading global producer of mineral fertilizers, has signed a memorandum of understanding (MoU) with three prominent Indian fertilizer companies — Rashtriya Chemicals and Fertilizers Limited (RCF), National Fertilizers Limited (NFL), and Indian Potash Limited (IPL) — to establish a joint venture for constructing a urea plant in Russia. The signing ceremony took place in New Delhi, India.

The planned urea plant, set to be located in Russia, is expected to have an annual production capacity of 1.8 to 2 million tonnes. The joint venture will be based on the supply of ammonia produced by Togliattiazot JSC, with the Indian companies providing financing for the project until its commercial operation begins.

Currently, the technical parameters and financial viability of the project are under detailed examination. Negotiations are also underway concerning the corporate structure and governance of the joint venture.

Dmitry Konyaev, CEO of Uralchem, emphasized the strategic importance of the Indian market, stating: “India is a leading agricultural player globally and one of the world’s biggest consumers of mineral fertilizers. For Uralchem Group, India has historically been a strategic market, and we are committed to expanding and deepening our cooperation with Indian partners. This memorandum marks another milestone in the continuous development of our long-term and mutually beneficial relations."

Uralchem Group’s key assets include Uralchem JSC, Uralkali PJSC, and TOAZ JSC, all based in Russia, with a combined production capacity of around 25 million tonnes. The company employs over 38,000 people globally.

This announcement does not constitute an offer to sell or invite the purchase of any securities and contains forward-looking statements, which are subject to risks and uncertainties. Uralchem Group makes no representation regarding the accuracy or completeness of these statements and does not accept responsibility for any decisions or actions taken based on them