InterAgro rents plant to make fertilisers

InterAgro, the producer and distributor of fertilisers, will expand its capacity by using the installations and the personnel of the state-owned Turnu Magurele-based Turnu SA plant. The large debts and the lack of working capital forced Turnu to cease production more than a year ago. InterAgro concluded a six-month rental contract with the company in Turnu Magurele to produce ammoniac, urea and nitrate. InterAgro is also producing chemical fertilisers at Azochim Savinesti and Sofert Bacau. The expansion of the business was due to the high demand on the market, the company’s owner Ioan Niculae told Ziarul Financiar. The chemical fertiliser plants saw their turnovers up 50%-60% last year, due to the $120 million direct subsidies from the Government aimed at buying fertilisers. ZF