Business news

MINSK, 13 August (BelTA) – The Belarusian Potash Company and China’s Sinochem Group signed a five-year exclusive memorandum on the supply of granular potash fertilizers. The document was inked during the visit of a Sinochem Group delegation to Belarus, BelTA learned from the press service of the Belarusian Potash Company.

The memorandum envisages the supply of a new type of potash fertilizers. This is halurgic granular white Muriate of Potash with the addition of Zinc and Sulphur. According to the document, this innovative product will be supplied to the Chinese market during a five-year period from 2019 to 2023 with the right to sign annual contracts based on the current market situation. According to the terms of the document, the total supply volume for the period of five years will make up 700,000 tonnes.

According to the Belarusian Potash Company, the signed document follows and develops the mainstream line of cooperation between the companies envisaged in the existing memorandum on other types of Belarusian potash. The document was signed on 10 May 2015 in the presence of Belarus President Alexander Lukashenko and President of People's Republic of China Xi Jinping during the visit of the government delegation of People's Republic of China to Belarus.

Director General of Belaruskali Ivan Golovaty noted that the signing of the new memorandum is a further acknowledgement of the fact that the company’s product is highly-demanded on the Chinese market. “We are sure that our new product with the addition of Zinc and Sulphur will quickly become popular and not only in the Asian region. Moreover, the new memorandum will enhance trade and economic exchange between China and Belarus and contribute to the strategic cooperation of Belaruskali and the Belarusian Potash Company with Sinochem Group, one of the world’s largest potash importers,” he said.