Metafrax has broken ground on a RUB58bn ($1bn) chemical plant for producing ammonia, carbamide and melamine in Gubakha, Perm Territory, Russia.
Metafrax is a company controlled by businessperson Seyfeddin Roustamov.
The plant will be completed in the first half of 2021. It is expected to produce 575,000 tonnes of carbamide, 308,000 tonnes of ammonia and 41,000 tonnes of melamine per year.
Roustamov said: “Metafrax development strategy until 2030 involves construction of new facilities for producing ammonia, carbamide and melamine.
“One of our key targets is to become the number one in the resin sales market.”
Austrian company Casale is the construction project licensor and contractor for the Gubakha plant.
Casale is involved in the development of technologies for production of synthesis gas and fertilisers.
Metadinea, one of the producers of synthetic resins and subsidiary of Metafrax, will be the main consumer of products made by the new plant.
Apart from the enterprise construction, the company also creates an accompanying city infrastructure.
The Perm Territory Government, Metafrax and Gubakha Administration had signed a special investment agreement on the construction of a new chemical plant during the Russian Investment Forum in Sochi.
Metafrax is a major producer of methanol and its derivatives in Russia. The company produces 3,400 tonnes of methanol per day. The company has its headquarters in Gubakha, Perm Territory.
The Metafrax group also includes the oldest chemical plant, Karbolit, located in Moscow Region – Metadinea synthetic resins production enterprise in Moscow and Perm Territory – and Metadinea Austria, a company producing formaldehyde and synthetic resins.
Metafrax has a share of 40% in the total exports. The company supplies its products to over 20 countries, including the UK, Finland, Austria, Germany, Switzerland, Japan, Brazil and Australia.
Roustamov is an energy and chemicals industry professional, developer, investor and philanthropist. In 2014, Roustamov became the major shareholder of the chemical company, Metafrax (Perm Territory).