May 19 (SeeNews) - Bulgarian nitrogen, phosphorus and fertiliser producer Agropolychim is partnering with Swiss industrial equipment supplier Casale to double its nitrogen-based fertiliser production capacity, it said on Friday.
As part of a five-year investment plan worth 250 million euro ($270.3 million), Agropolychim will build a state-of-the-art nitric acid plant, engineered by Casale, it said in a press release. The new plant is set to be operational by end-2027, increasing the company's nitrogen capacity to over 1.5 million tonnes.
The project will strengthen Agropolychim's position as one of the few carbon-neutral fertiliser plants globally and is part of the company's goal to establish itself as a leading green and blue fertiliser and ammonia platform in Southeast Europe.
The company has been producing its steam using biomass since 2018, allowing it to maintain full production capacity in 2022 despite the gas crisis in Europe. Over the past five years, Agropolychim's gas consumption has decreased by 98%.
Last year, the company reduced its dependence on natural gas for production by overhauling major facilities under a large-scale investment programme.
Agropolychim is owned by British Virgin Islands-registered firm Acid & Fertilizers Ltd, according to the Bulgarian commercial register.
($ = 0.9248 euro)