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Belaruskali approves new joint trader of potash fertilizers

February 18, 2013, 15:41 UTC+3

Earlier, the Uralkali Board of Directors approved this decision

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MINSK, February 18 (Itar-Tass) – Belaruskali Supervisory Board has approved the creation of a new trader of potash fertilizers – Soyuzkali.

“Last Friday the Supervisory Board approved the creation of Soyuzkali,” the company’s official said on Monday.

Earlier, the Uralkali Board of Directors approved this decision.

The Russian-Belarusian company is expected to be registered in Zug, Switzerland. However, despite the change of jurisdiction the activity of Souyuzkali will be made from Minsk and not from Switzerland. The joint trader, Belarusian Potash Company, will stop the work. A new joint venture will be headquartered in Minsk.

Belarusian First Vice-Prime Minister Vladimir Semashko said the parties pursued this goal long ago. “In principle, documents on the creation of the joint venture were ready a year ago. But certain problems should be solved. Today we can state that necessary documents had been coordinated. Now it is necessary to act by registering the joint venture,” the vice-prime minister told journalists.

At present, the Belarusian Potash Company is the exclusive supplier of fertilizers abroad. Belaruskali (45 percent), the Belarusian Railway (5 percent) and Uralkali (50 percent) are its shareholders.

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