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Lukashenko wishes to discuss joint selling of fertilizers with Putin

May 29, 2012, 17:51 UTC+3
The Russian interest in the Belarusian Potassium Company project may derive from the high profitability of mineral fertilizers, he said
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MINSK, May 29 (Itar-Tass) — Belarusian President Alexander Lukashenko plans to discuss joint selling of mineral and other fertilizers via the Belarusian Potassium Company with Russian President Vladimir Putin.

“This is a question I would like to discuss with the Russian president during his visit to Belarus. We may sell potassium fertilizers jointly or maybe broaden the company’s sphere of activity to nitric and phosphoric fertilizers and involve Russian companies in that work,” he told Belarusian Potassium Company General Director Vladimir Ivanov on Tuesday.

The company needs to develop, Lukashenko said. “We will discuss vectors of its development with the Russian president and we will see if Russia wishes to cooperate in that area. Naturally, we are interested in that,” he said.

The Russian interest in the Belarusian Potassium Company project may derive from the high profitability of mineral fertilizers, he said. “The potassium company has a large turnover, approximately $3 billion in Belarus and the same sum in Russia. In fact, revenues from potassium fertilizers are higher than those of large oil companies,” he said.

Lukashenko and Ivanov discussed the financial and economic performance of the Belarusian Potassium Company, ways to upgrade the sales mechanism, personnel and company prospects.

The Belarusian Potassium Company was set up by BelarusKali and UralKali on parity terms in December 2005. Its current shareholders are BelarusKali (45%), the Belarusian Railroads (5%), and UralKali (50%). The company accounts for about 43% of the global exports of potassium chloride.

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