EuroChem outline cooperation in Kazakhstan

[ 20.08.09 17:25 ]

The Eurasian Development Bank (EDB) and OJSC EuroChem Mineral and Chemical Company have signed a Memorandum of Understanding relating to EuroChem.s plans to launch a large-scale project in Kazakhstan that will include the development of phosphate rock reserves, the construction of integrated mining and processing works and establishing downstream fertilizer plants.

The implementation of these plans will require significant long-term investments. With this in mind, the EDB has agreed to consider the possibility of financing the project and to enter into negotiations with EuroChem; EDB will also review project data prior to taking a final decision on financing the EuroChem project in Kazakhstan. The EDB is expected to reach a decision on the matter during 2010.

The parties stated that the project will contribute to further development of integration processes in the CIS and Eurasian Economic Community, promote development of market economies in Russia and Kazakhstan, strengthen trade and economic relations between the countries and favour their economic growth.

"Fertilizer Europe", 7.08.2009