Kazakhstan, Chinese company to build potash fertilizer plant
By Aynur Jafarova
Kazakhstan plans to construct a plant for production of potash fertilizer, Trend news agency said, citing the deputy Kazakh minister of industry and new technologies, Nurlan Sauranbayev.
The Kazakh Ministry of Industry and New Technologies and China-Agro-Holding JSC agreed to build the plant during Chinese President Xi Jinping's visit to Astana on September 6 - 8, he said.
"The Chinese company will be a partner in this project," Sauranbayev said. "As is known, China is one of the large consumers of potash fertilizer, which is why we will get a guaranteed market for our products."
The project is estimated to cost nearly $1 billion, he said.
"If the capacity of the plant grows, the project's cost may increase to $3 billion," he said.
The chairman of the Board of Samruk-Kazyna Fund, Umirzak Shukeyev, and the head of the Board of Directors of CITIC Corporation, Chang Zhenmin, had earlier signed an agreement on the so-called "Investment map", which includes projects to be implemented in Kazakhstan jointly with China. The total cost of the projects to be carried out by 2020 is valued at $22 billion.
Potash fertilizer is a vitamin for plants helping their normal growth. It increases productivity and boosts the resilience of plants against diseases.
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