Phosphate-based fertilizer producer PhosAgro has signed an agreement with Gazprombank Leasing to lease 500 next-generation hoppers for fertilizer transport. The agreement is worth RUB 2.9 billion (EUR 42.9 million), and has been signed for 10 years with a purchase option on the hoppers. The hoppers will be delivered in January 2018 by Tikhvin Freight Car Building Plant, which won a tender to supply the hoppers and is part of United Wagon Company.
The next-generation hoppers are able to transport greater volumes of fertilizers – an additional 7 million tonnes more than typical hoppers. Longer time between services (eight years or 800 thousand km) will reduce the cost of the hoppers’ life-cycle by more than two times.
“This transaction is designed to renew our fleet, given the increasing demands placed on it, and to strengthen our competitiveness both at home and in international markets. With leasing rates for vehicles of this type increasing, having new hoppers with expanded capacity will have a substantial economic effect, particularly given the increases in our urea production,” PhosAgro CEO Andrey Guryev said.
PhosAgro’s logistical assets currently have a fleet of more than 6,000 owned and leased cars to transport primarily apatite concentrate and fertilizers across Russia.
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