PhosAgro's Board of Directors has approved the draft 2023 budget, which envisages a 3% increase in capex, to ₽66 billion. Capex of current year including capitalized repairs will be almost ₽64 billion, an increase of one third compared to 2021. Key projects for 2023 include reaching design capacity at the Volkhov phosphate-based fertilizer complex, development of the ore base in Kirovsk, and facilities in Cherepovets and Balakovo.