PhosAgro Signs 3-Year Memorandum with IPL

OJSC PHOSAGRO - PhosAgro Signs 3-Year Memorandum with IPL

PR Newswire

London, May 28

PhosAgro Signs 3-Year Memorandum with IPL for 1.35 mln Tonnes of FertilizersMoscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, has signed a memorandum of understanding with Indian state corporation Indian Potash LTD regarding supply of over 1.35 mln tonnes of NPK, NPS and DAP fertilizers to India between 2015 and 2018. The memorandum was signed at the International Fertilizer Industry Association conference in Istanbul.PhosAgro CEO Andrey Guryev said: “This year we have renewed sales to India after a nearly two-year absence due to significantly lower prices. We currently see sustained levels of demand for NPK/DAP fertilizers on the Indian market.“We are pleased to continue our mutually beneficial cooperation with IPL, the largest importer of mineral fertilizers in India over the last 60 years with over 10 million tonnes of annual fertilizer imports of different grades.”For further information please contact: OJSC PhosAgroIrina Evstigneeva, Head of Corporate Finance and Investor Relationsir@phosagro.ru+7 495 231 3115 Timur Belov, Press OfficerAnastacia Basos, Deputy Press Secretary+7 495 232 9689EMSam VanDerlipvanderlip@em-comms.com+44 7554 993 032+7 499 918 3134Notes to EditorsPhosAgro is one of the leading global vertically integrated phosphate-based fertilizer producers. The Company focuses on the production of phosphate-based fertilizers, feed phosphate and high-grade phosphate rock (P2O5 content of not less than 39%), as well as ammonia and nitrogen-based fertilizers. The Company is the largest phosphate-based fertilizer producer in Europe, the largest producer of high-grade phosphate rock worldwide and the third largest MAP/DAP producer in the world (excluding China), according to Fertecon. PhosAgro is also one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia.PhosAgro has 2.1 billion tonnes of resources (according to JORC) of high quality apatite-nepheline ore. The Company's mines and phosphate rock production facilities are located in the mountainous areas of the Kola Peninsula in the Murmansk region of northwest Russia, whereas its fertilizer and feed phosphate production assets are located near the city of Cherepovets in the Vologda region and near the city of Balakovo in the Saratov region of southwest part of European Russia. PhosAgro’s 2014 IFRS revenue was over USD 3.2 bln and EBITDA was USD 979 mln.For further information on PhosAgro please visit: www.PhosAgro.com