The Board of directors of Metadynea – the leader of resins production (part of the Metafrax Group) estimated the course of investment projects on their site in Moscow Region during the visiting session.
The management of the company visited their first major investment object on the industrial site in Orekhovo-Zuevo in the framework of the project Formaldehyde-2 plant construction.
Metadynea is a leader in the production of synthetic resins in the Russian Federation – and supplying their production with its own raw materials is an important task for the company. Formaldehyde is particularly used in the production of PF (phenol-formaldehyde) and UF (urea-formaldehyde) resins.
In July 2016, an agreement was signed on the first major investments of own funds in the formaldehyde production object on the site in Orekhovo-Zuevo. The total declared volume of the project financing amounted to approx. 1 billion roubles. A land plot of 16 901 m2 was reserved for the project. , The licensor was Johnson Matthey Formox AB.
The commissioning of the facility should increase the production of formaldehyde by 50,000 tons per year in equivalent to 100% formaldehyde, and cover the most of internal plant’s needs.
The main part of the commissioning is planned to be completed in December 2017, the full completion of the project and putting the object into operation is planned in January 2018.
LLC Metadynea is a 100% subsidiary of PJSC Metafrax, one of the largest producers of methanol and formalin in Russia. The majority shareholder of PJSC Metafrax is the Russian company MetaHolding, which is managed by Seyfeddin Rustamov.