P> VolgaOrgChem is modern complex of chlor-organic productions placed in Dzerzhinsk (360 kms east of Moscow, Russia).
On the first stage with CAPEX around $22M VolgaOrgChem will produce:

1. 15.000 Mt of Monochloroacetic Acid^*;
2. 22.000 Mt of hydrochloric acid;
3. 15.000 Mt of Sodium Hypochlorite.

Currently all three items are distributed by ChemPartners with market share up to 85%^**. After production launch in QIV-2009 imported products will be replaced by chemicals produced by VOC in Dzerzhinsk.

Beneficial location of the Plant (Dzerzhinsk is key centre of Russia chemical industry near Moscow and close to major customers) and sufficient infrastructure of production site create excellent opportunities for further up-ward integration into MCAA-based added value products as follows:

1. Glycine;
2. glyphosate and other herbicides;
3. CMC (carboxymethylcelluloses);

^* - MCAA is multifunctional product used to produce a number of chemicals used in oil-drilling, construction, cosmetics and agriculture
^** - for MCAA in 2006Y