Eurochem in $630M Deal to Develop Potassium Deposit.

[ 26.09.08 14:46 ]

KOTELNIKOVO, Volgograd Region -- Fertilizer maker Eurochem signed a $634 million deal with an international group of contractors on Thursday to help it develop a potassium deposit near the Volga River.

Eurochem won the rights to mine the Gremyachynskoye site in 2005 and has been developing it since 2006. The deposit contains potassium reserves of more than 1.2 billion tons, according to geological surveys.