Uralchem, Moscow, and Russian logistics provider Ultramar LLC, St. Petersburg, have signed a memorandum on cooperation.
According to Uralchem, the parties agreed on the conditions of cooperation and partnership in respect of the port infrastructure development project that Ultramar is realizing in the port of Ust-Luga for handling dry mineral fertilizers. The port project plans ultimately envisage the building of a multi-functional terminal with a potential capacity of up to 12 million mt/y.
According to Uralchem CEO Sergey Momtsemlidze, the additional volume of mineral fertilizers that Uralchem could redirect to Russian ports could be over 2 million mt/y, and diverting exports from non-Russian Baltic ports would help the company cut transportation costs.