Belarus plans to become a world leader in the production of potash fertilizers, President Alexander Lukashenko said as he met with Russian businessman, Chairman of the Board of Slavkaliy Mikhail Gutseriyev on 31 August.
Investment in the new project will reach $164 million in 2017 and $400 million next year.
Today, Belarus is one of the global leaders in potash fertilizers, including pelletized fertilizers, the president said.
He added that the demand to quality of the product has been growing.
“When we implement two national projects, namely the project to build a potash fertilizer plant in Petrikov and the Slavkaliy project, Belarus will become a world leader in the production of potash fertilizers,” the head of state stressed.
In his turn, Mikhail Gutseriyev reported on the progress in Slavkaliy project. The work has already begun with both Belarusian and German companies involved in it.
10 Belarusian firms are involved in designing, and agreements have been concluded with 12 contracting organizations from Belarus.
“This year $164 million were invested in the project – $123 million from us and $41 million in a loan from China,” the Russian businessman said.
He added that they will allocate additional $60 million in 2018 while China will provide $340 million.
The Nezhinsky mining and processing factory at the Starobin potassium deposit will become the country’s second enterprise to extract potassium ore and produce potash fertilizers. Its capacity will reach about 2 million tonnes of potassium per year.
The investment project involves the construction of one mining facility, a processing plant, a gas turbine power plant, railway infrastructure, access roads, housing and other infrastructure. The construction of the Nezhinsky mining and processing factory began in 2016 and is implemented by Slavkaliy.
Belarusian fertilizers will be promoted on new markets, including Brazil, China and India, which, according to Alexander Lukashenko, “is a colossal market”.