India still negotiating on Belaruskali, no agreement yet - ambassador
MINSK. Aug 14. (Interfax) - Negotiations about an Indian company's purchase of Belarusian potash producer OJSC Belaruskali are underway at an expert level, but there are so far no results, Indian Ambassador to Belarus Manoj Bharti said at a press conference in Minsk on Tuesday.
"If we are talking about a lack of information [about the negotiations], that means work is underway at the expert level of the two companies, Belarusian and Indian, which are striking an agreement," he said.
"So far they have not arrived at any sort of agreement. We have to wait for the results, which will be announced," Bharti said, having advised to turn to Belaruskali for more detailed information. Belaruskali is directly participating in the negotiations, and "the embassy is by and large an observer," he said.
Bharti confirmed India's interest in acquiring a stake in the Belarusian potash producer. "Belarus is one of the most important suppliers of potash and other fertilizers to India, and India has always tried to enter into contractual relations with Belarus in order to ensure uninterrupted supplies," he said.
Belaruskali is the only producer of potash in Belarus, as well as one of the largest potash suppliers on the global market. The enterprise was corporatized at the end of August 2010 and is wholly owned by the Belarusian government.
This July, Belarusian President Alexander Lukashenko said that the company is appraised at $30-$32 billion and that the government will not be selling a controlling stake in it.
Belaruskali produced 8.8 million tonnes of potash last year, around 7.7 million tonnes of which were exported. There are plans for its capacities to be raised to at least 11 million tonnes of mineral fertilizer a year in 2015.