Uralkali okays new Belarus-Russia Soyuzkali GmbH

MINSK, 15 February (BelTA) – The Board of Directors of OAO Uralkali has approved the establishment of Soyuzkali GmbH, a trader of potash fertilizers jointly with OAO Belaruskali, BelTA learned from the Russian company.

According to Uralkali, the Russian-Belarusian company will be registered in Switzerland’s Zug. The authorized capital of Soyuzkali will make up Fr200,000. The share of Uralkali in the authorized capital of the joint venture will make up 50%.

The commercial organization will be established once all necessary anti-monopoly checks are done, according to Uralkali.

Therefore, the Russian company has okays the setting up of Soyuzkali and is waiting for a relevant decision from the Belarusian side.

As BelTA reported earlier the joint venture will sell Russian and Belarusian potash fertilizers on foreign markets. The company was expected to start operation by the end of H1 2013.

At present Belarusian Potash Company (BPC) is the sole exporter of potash fertilizers produced by Belaruskali and Uralkali. BPC was founded in 2005. The shareholders are Belaruskali (45%), Belarusian Railways (5%) and Uralkali (50%). Belarusian Potash Company accounts for more than 40% of MOP deliveries worldwide. BPC sells into Europe, India, China, Central and South America, the United States, the Asia-Pacific Region, Africa and the Middle East.