Metadynea launched a new formalin production unit worth 1.2 billion rubles

Metadynea LLC, a subsidiary of PJSC Metafrax and one of the leaders of the Russian market of synthetic resins launched Formalin-2 production plant in Orekhovo-Zuevo. The new capacities will allow to provide necessary volumes of formalin to the company’s Moscow region plant and to increase the efficiency of the enterprise’s operation.

On October 2, a ceremonial launch of the new unit Formalin-2 took place at the production site of Metadynea LLC in Orekhovo-Zuevo. Production is designed to produce 55% formalin in the amount of 91 thousand tons per year, which will fully meet the internal needs of the enterprise in this type of product. In terms of 100% formalin, the plant capacity reaches 54 thousand tons annually.

The total project budget amounted to 1,205 billion rubles. The construction of the Formalin-2 plant has become one of the largest projects of Metadynea, implemented at its own expense.

The project started in 2015. In December 2017, a report was received on the compliance of the object with the requirements of technical regulations and project documentation, and in May 2018, permission for commissioning was received. The equipment on the site is produced by Johnson Matthey Formox AB, which is one of the leading Western suppliers of technologies for the production of formaldehyde.

“The new plant on Orekhovo-Zuevo production site has successfully passed all the tests. The design capacity of 280 tons of 55% formalin per day has been achieved, and the quality of the products corresponds to the warranty values. This gives us the opportunity to cover the internal demand for formalin by 100%, reduce logistics costs and thus offer consumers even more competitive products,” said Igor Spassky, General Director of Metadynea LLC.

“The capacity utilization of Metafrax and its subsidiaries is approaching the maximum level, so we are actively working to expand them. The increase of the volumes of its own formalin production in the Moscow region will make the site less dependent on the market situation and will serve as a guarantee of its stable operation. Metadynea is already included in the list of the largest producers of synthetic resins in Europe, and the launch of the new production will help to consolidate and strengthen the company's position,” said Armen Garslian, Chairman of the Board of directors of PJSC Metafrax.