18:04 23 September 2024
Russia flooding Poland with fertilizers, worsens condition of Azoty Puławy
Grupa Azoty Puławy plans to invest PLN 260 million this year despite financial difficulties. In the first half of 2024, they spent PLN 119 million on investments, a 31% decrease from the previous year. The key project is completing a new nitric acid plant, critical for fertilizer production, with a budget of PLN 695 million aimed for completion by November 2024. The company reported a net loss of PLN 336 million for the first half of 2024, with sales revenue at PLN 1.756 billion. Increased fertilizer imports, particularly from Russia, have heavily impacted their financial situation, necessitating ongoing cost optimization and negotiations regarding collective labor agreements.
(wnp.pl)
