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Performance of KuibyshevAzot OJSC in the first half of 2006

The sales of KuibyshevAzot JSC for 6 months of 2006 amounted to RUR 6,2 b., 4,9% down compared to the results of the same period of last year, the company's media-service reports.

In comparison with the first half of 2005 net assets increased by 17% to RUR 6,2 b. The increase in production (in comparable prices) is 4,3%. Profit on sales was RUR 911,2 m.
Lower income and earnings with growth of production volumes is caused by the change of the market situation for the company main products and growth of production costs (increase in prices of raw materials, utilities, transport rates).

Outputs of the main products compared to the same period of 2005 were as follows:
- Ammonia – 267 000 t (137,4%)
- Mineral fertilizers in terms of 100%N – 121,4% including: 
   Ammonium nitrate – 223,3 000 t (127,3%); 
   Urea – 126,7 000 t (134,4%); 
   Ammonium sulphate – 204,7 000 t (106,8%);
- Caprolactam – 76,4 000 t (106,9%)
- Polyamide-6 – 11,8 000 t (101,9%)
- Polyamide yarn – 2 000 t (109,5%)

Within strategic development program of the company KuibyshevAzot continues to implement measures for technical re-equipment and remodeling of the production. Almost all departments of the enterprise are involved in this work.

During first six months of 2006 RUR 378,7 m. were invested in production development, RUR 431,8 m. – in repairs and equipment modernization.

Among key activities the following should be noted:

1) Ammonium nitrate plant new filter for preparing magnesian additive was commissioned that allowed to increase sufficiently the filtering rate and accordingly the quality of the final product;

2) Urea plant: preliminary works for revamping of synthesis and distillation section are coming to an end. At present all new equipment is in stock and all cuts-in in the process pipelines have been completed. These measures will allow to decrease power consumption and to increase the capacity of the plant in this stage by 13%.

The preliminary stage of works including preparation and collection of all necessary information as well as the stage of revamping of weak nitric acid units have been finished.
Gas feedstock preparation plant for ammonia production: the construction of new air separation unit required for providing of capacity build-up of all production units has been started in the first six months of the year. Up to date the equipment has been ordered and construction works have been started on the project. Start-up of the unit is planned for 2007.

Within the integrated urea production development program a number of significant projects have been realized. In the first half of the year the cascade C was revamped in the hydroxylaminesulphate plant. This measure will allow additional stabilizing of the process and increasing of hydroxylaminesulphate output on which the caprolactam output directly depends. Cyclohexanone plant: the new hydrogen circulation compressor on the hydration unit is being installed. These measures are aimed at the reduction of hydrogen consumption rates.



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