EuroChem hopes to receive contracts for phosphate fields in Kazakhstan in Q2
TARAZ. May 24 (Interfax) - Russian holding EuroChem hopes to receive contracts in the second quarter of 2012 for resource development at the Kok-Dzhon and Gimmelfarbskoye phosphate fields in Kazakhstan's Zhambyl region, the head of the holding's Kazakh project, Dmitry Valyshev, told journalists on Thursday.
"We hope that a contract is signed for resource development in the second quarter," Valyshev said.
It was earlier reported that EuroChem plans to build a plant in southern Kazakhstan for the production of phosphate, nitrogenous and complex fertilizers with 1.4 million tonnes in annual capacity. The plant will be developed using resources from Kok-Dzhon and Gimmelfarbskoye fields. Total planned investment in the project comes to around $2 billion. The plant will supply fertilizer to Kazakh agro-producers and export its production.
The company said in November 2011 that it plans to bring in a Kazakh partner and give it a 25% stake in the project.
