Jonas Dastikas, Lifosa's CEO, told that 19.6 million euros had been invested in the project launched at the end of 2015.
"We built a unit of soluble fertilizers. This type of fertilizers have a bigger added value, as it does not pollute the environment and doesn't leave any waste products. (…) Our sector is currently in crisis, we are not doing well so far, so we expect to earn more on the fertilizers," said Dastikas.
In his words, the unit, which was completed in April, would produce fertilizers mainly for exports.
Lifosa 's revenue fell by 11 percent to 367.421 million euros last year, from 412.687 million euros in 2015, driven down by falling diammonium phosphate prices. The company's net profit plunged by a factor of ten to 6.137 million euros in 2016.
