OstChem Holding AG, owned by Ukrainian billionaire Dmitry Firtash, resumed chemical production at its Estonian plant as it seeks to sell fertilizers in the European Union.
AO Nitrofert will produce 280,000 tons of ammonia and carbamide a year, Firtash’s Group DF, which combines all his assets, said today in an e-mailed statement. The plant will sell fertilizers mainly to North Europe, according to the statement.
“Resuming production at our Estonian factory opens up for us new opportunities to enter the European market, which can consume 10 million tons,” said Boris Krasnyansky, the chief executive officer at Group DF. “The EU market is a huge market and we want to work there and earn there.”
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