Business news

MINSK, 11 May (BelTA) – Belarusian Potash Company (BPC) and Sinochem Group have signed a long-term memorandum of cooperation for five years (2015-2019), BelTA learnt from BPC spokeswoman Irina Savchenko.

“BPC and Sinochem Group are determined to continue their consolidated efforts in addressing the issues related to the export/import of potash fertilizers and undertake obligations to sell and purchase the Belarusian potash fertilizers to the total tune of 4 million tonnes within the following five years,” the spokesperson said.

The total cost of the fertilizers planned for the delivery to China will make up about $1.3 billion in the current prices.

Belarusian Potash Company was established in September 2013. The company independently promotes Belarusian potash fertilizers onto foreign markets. The merchandise is exported to India, China, Europe, Central and South Americas, the Asia-Pacific Region, Africa, and the Middle East.

Founded in 1950, Sinochem Group is one of China’s biggest trading companies. It has more than 100 subsidiaries in China and abroad. The company produces and sells chemicals and fertilizers and is engaged oil prospecting and extraction.