OREANDA-NEWS. On 31 January 2008  the extraordinary KuibyshevAzot shareholders’ meeting was held. It approved the proposal of the Board of Directors to sell 3.5% of share capital to the IFC (The International Finance Corporation). The transaction value is $20m. The parties intend to finalize the transaction in February.The company plans to spend the raised money for realization of its investment program as well as for the recovery and expansion of capacities of Kurskkhimvolokno acquired at the end of 2007.

The plans of KuibyshevAzot include an increase of the caprolactam output to 190,000 t/a, construction of Polyamide-6 Line 4, revamping of the ammonia/urea plant and construction of an air separation plant.