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9 Jul 2019

Slavkaliy to coordinate pricing policy with Belarusian Potash Company

Slavkaliy to coordinate pricing policy with Belarusian Potash Company

MINSK, 9 July (BelTA) – In order to sell products of the Nezhinsky mining and processing factory Slavkaliy will pursue a pricing policy coordinated with Belarusian Potash Company, BelTA learned from the businessman Mikhail Gutseriyev on 9 July.

The businessman said: “The pricing policy for entering the foreign market will be coordinated. There will be no competition. Only symmetry. We have agreed that once we are about to finish building [the Nezhinsky mining and processing factory], we will sign all the necessary documents. We now have a framework agreement that we will act in lockstep.”

In his words, construction work proceeds in a vigorous and satisfactory manner. The volume of investments poured into building the factory in 2019 will be €400 million. Work now continues to build two shafts over 400m and 350m deep. “I think we will finish building the shafts in one year,” Mikhail Gutseriyev noted. As for the surface part, the first meeting of the staff to discuss the construction of the office premises will take place in Lyuban on 22 July.

“We will finish building the factory and will make the first products in 2.5 years, by 2023,” the businessman assured.

Mikhail Gutseriyev also drew attention to the positive economic effect from commissioning a new mining and processing factory and from selling an additional volume of potash fertilizers for the country as a whole. “It means extra foreign currency proceeds from export. It will help stabilize the Belarusian economy, stabilize the currency exchange rate. It is a new good foreign currency piggybank, good business for 100 years. It will stay in place and will not go away,” Mikhail Gutseriyev is convinced. Apart from that, benefits for the development of the region where the mining and processing factory is being built are already obvious. New jobs will be created. Three residential houses are being built. Tax revenues, including taxes paid to the municipal budget, will increase in the future.

The United Nations Organization expects the planet’s population to reach 10 billion people by 2050. This is why the need for potash fertilizers will only grow higher since they are indispensable for growing agricultural crops. “The number of countries with potash reserves is low. Belarus does not have oil but, fortunately, it has potassium. It is necessary to use this resource. It is necessary to build new mining enterprises, reduce production costs, penetrate new markets, reach new countries, thus increasing Belarus’ foreign currency revenues,” Mikhail Gutseriyev believes.

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