OREANDA-NEWS. August 17, 2012. Belarus’ chemical company OJSC Grodno Azot increased fertilizer production 5.2% on the year in January-June 2012 to 391,050 tonnes (in terms of 100% nitrogen), a representative in the administration of the country told reporters.

Grodno Azot saw its revenues shrink on the year in Jan-Jun to USD 22 billion to compare with USD 39.5 billion a year ago.

Return on fertilizer sales stood at 8.1% to compare with 14.3% in Jan-Jun 2011.

Grodno Azot’s fixed capital investments stood at 478.253 billion rubles (USD 57.5 million) in January-June 2012, up 11.7% on the year.

Grodno Azot was set up in 1963 and transformed into an open joint-stock company in 2002. The Belarusian government holds a 99.97% stake. The annual capacity is estimated at 305,000 tonnes of sulphuric acid, 645,700 tonnes of nitrogen fertilizers, 111,200 tonnes of caprolactam and 55,400 tonnes of methanol.

Grodno Azot is the main producer of liquid ammonia, nitrogen fertilizers, methanol, caprolactam, biodiesel fuel.

Russia’s Gazprom is a potential investor for Grodno Azot. Gazprom considers Grodno Azot “a potential interesting asset”, Russian Ambassador Alexander Surikov said in late 2011.