EuroChem and Krasnodar Territory have concluded an agreement of social and economic co-operation

August 23, Governor of the Krasnodar Territory (Russia)  Alexander Tkachev and General Director of the EuroChem Mineral and Chemical Company Dmitry Strezhnev signed an agreement of social and economic cooperation, as the Company informs.

The production of fertilizers by EuroChem-BMU OJSC in 2005 grew more than 6 times against 2001 when the Company was not part of EuroChem MCC. In 2004-2005, investments in the enterprise's production development exceeded RUB 374mln.

Under the agreement, EuroChem will pay taxes of at least RUB 100mln to the Territory's consolidated budget and direct at least RUB 31mln of charitable contributions to Kuban in 2006.

The EuroChem Mineral and Chemical Company CJSC (later reorganized in OJSC) was founded in 2001. It is the largest fertilizer producer in Russia, one of the top three European and top ten global leaders in this field. The company comprises a wide range of mining and industrial enterprises, as well as transport divisions, and a broad marketing network in different regions of the world with around 30,000 employees. Its manufacturing enterprises are Nevinnomyssky Azot (Stavropol Territory), Novomoskovskaya Stock Company Azot (Tula Region), Kovdorsky Mining-and-Processing Integrated Works (Murmansk Region), Phosphorit Industrial Group (Leningrad Region), EuroChem - Belorechenskie Minudobrenia (Krasnodar Territory) and Lifosa AB (Lithuania).

EuroChem's major shareholder is the Cyprian MCC Holding (99.9%), owned by Andrey Melnichenko and Sergey Popov, members of EuroChem's BOD.

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