A memorandum of cooperation was signed between JSC Rustavi Azot and the Ministry of Economy and Sustainable Development of Georgia. The memorandum was signed by Mr. Prakash Kejriwal the Chairman of the Supervisory Board of JSC Rustavi Azot and Minister Mr. Levan Davitashvili.
In January 2023, 100% of the shares of JSC Rustavi Azoti were acquired by – Indorama Corporation, a Singapore based multinational industrial group. Indorama's has taken a decision to invest 60 million US dollars in the construction of a new manufacturing facility for production of Low-Density Amonium Nitrate (LDAN) in the teritory of JSC Rustavi Azoti.
The LDAN project involves the production of a new, high-value product that will enhance export earnings and increase foreign exchange reserves for the country, optimise and sustain the current direct and indirect employment in addition to creating additional opportunities. This project will attract additional capital and bring sustainable social and economic benefits.
The memorandum determines the cooperation terms between the Parties for the successful and timely implementation of the LDAN project.
