Amid improved financial indicators, Metafrax controlled by Seyfeddin Roustamov considers the opportunity to expand its largest investment project
Online PR News – 05-September-2018 – Metafrax PJSC reported the results for the first half of 2018. The company revenue under the RSA made up $183.6 million, of which net profit $73.9 million. These results are by 28.7% and 37.3% respectively higher than for the previous year. According to Metafrax beneficiary owner Seyfeddin Roustamov, the key growth drivers are the favorable market conditions and optimized business processes.
With growing financial indicators, the company plans to expand its largest investment project - the construction of Ammonia-Carbamide-Melamine Plant at the production site in Gubakha (Perm Territory, Russia). The construction of this large-scale facility is currently underway. The company's management plans to complete the construction in 2021, and is sure that it will strengthen Metafrax position in the European market of synthetic resins. At the same time, the company considers the possibility of expanding plant facilities, namely, to build another melamine plant. At the end of July, Metafrax signed a contract with Casale (Switzerland) for the development of a plant baseline design. Mr Roustamov notes that once the plant is built, Metafrax will be among the five largest producers of melamine in Europe. The project is estimated at $ 230 million.
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