Welcome to our dedicated page for PhosAgro news (Ticker: PHOJY), a resource for investors and traders seeking the latest updates and insights on PhosAgro stock.
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PhosAgro CEO Andrey Guryev visited the Ultramar Terminal at the port of Ust-Luga, under construction for mineral fertilizer transhipment. With a projected completion in 2021, the terminal will handle up to 25 million tonnes annually, including 3 million tonnes of PhosAgro fertilizers. This project aligns with PhosAgro's strategy to increase fertilizer exports by 25% by 2025. A recently launched rail link enhances logistics, aiming to meet growing demand efficiently. The terminal's construction is ahead of schedule, with operations expected to commence in November.
PhosAgro has signed new collective agreements for its employees that will extend until 2023, committing RUB 1.1 billion to enhanced benefits. The agreements were established following employee feedback and will cover private medical insurance, cultural events, and family-related payments. More than 17,500 workers and retirees will benefit, marking a 3% funding increase. PhosAgro's efforts reflect its commitment to social responsibility, as stated by industry leaders, emphasizing its role in ensuring employee welfare during challenging times like the pandemic.