Azerbaijan, Baku, March 30 / Trend E. Kosolapova/
Kazakhstan and Russian company Eurochem reached the agreement on gas supplies to the future company's phosphate and nitrogen fertilizers plant in Kazakhstan, Kazakh First Deputy Minister of Industry and New Technologies Albert Rau told Trend in an interview.
"The issue of technical gas delivery has been settled," Rau said.
Rau gave no details of the agreement.
In 2008 Kazakh President Nursultan Nazarbayev approved the Eurochem's project on phosphate deposits development and fertilizers production in Kazakhstan. However, the parties could not agree on the gas price for a long time. Eurochem needs large amount of gas for its production.
Rau added that the project's feasibility study is developing now.
"The investment project on construction of Eurochem's fertilizer plant is planned to be completed in 2017," Rau said.
Kazakhstan produced 288,500 tons of mineral fertilizers, meanwhile the country's demand in fertilizers hit 2.6 million tons, Rau said.
Following the realization of Eurochem's project, Kazakhstan's fertilizer production should reach 1.4 million tons per year.
EuroChem is Russia's largest mineral fertilizer producer and ranks among the top three European and top ten global producers by nutrient capacity.