Turkmenistan, Ashgabat, Sept. 4 / Trend H. Hasanov /
The Turkmen president has urged for immediate measures to increase the pace of the Garlyk mining complex producing potash's construction in the Lebap region, the Turkmen government said today.
According to the information, the president stressed the importance of sequential actions to improve the profitability of the domestic chemical industry.
The project is being implemented by Belgorkhimprom within an agreement signed with the Turkmen government in 2010. According to the conditions, the industrial complex is planned to be commissioned in early 2015.
Turkmenhimiya State Concern signed an additional agreement with Belgorkhimprom in mid-July. The total contract value will be brought to $1.126 billion.
According to the presidential decree, Turkmenhimiya was allowed to conclude a credit agreement for 10 years with a five percent annual interest and a four-year grace period with Turkmenbashi to the amount of $150 million through the central bank's funds.
A mine for potash fertilizer extraction is being constructed in complex geological conditions. Builders have to consider the increased seismicity of a mountain area.
Mastering Garlyk field located on the territory of Turkmenistan will allow receiving 1.4 million tons annually.
The new production will not only fully meet the needs of agriculture in the country, but send thousands of tons of valuable fertilizer for export every year.
Production of mineral fertilizers is one of the most profitable industries. The steadily growing world population, increased demand for grains and oil-bearing crops for biofuel production, the current state of the global market of agricultural products were the main factors of the increased demand for these products.
In addition to increasing productivity, potash fertilizers increase the qualitative characteristics of cultivated products.