Russian company to invest in Kazakh phosphate deposits development
Azerbaijan, Baku, Feb. 29 / Trend E. Kosolapova/
Russia's largest producer of mineral fertilizers EuroChem will invest nearly $2 billion in the Karatau phosphate deposits development in Kazakhstan in 2012, Novosti-Kazakhstan reported referring to the Russian news agency Prime.
"Moreover, it is planned to build a mining and processing plant in the town of Zhanatas and phosphate and nitrogen fertilizers plants in the town of Karatau on the basis of these deposits," EuroChem public relations and communications department head Vladimir Torin told Prime.
Torin said that the phosphate raw materials processing plant will be built on the base of the Sary-Tas plant, which was closed down 18 years ago. The plant capacity will hit one million tons of fertilizers per year.
The fertilizers produced at the plant will be used at domestic market and exported to Belarus and Russia.
EuroChem is Russia's largest mineral fertilizer producer and ranks among the top three European and top ten global producers by nutrient capacity.