Kazakhstan: Phosphate Rock Mining Operations EuroChem Expands Investment in Kazakhstan
EuroChem announced that its Kazakhstan subsidiary has signed a Memorandum of Understanding and Partnership with the Ministry of Investments and Development of the Republic of Kazakhstan and the Akimat of the Jambyl Region of Southern Kazakhstan.
Astana/Kazakhstan — The Memorandum was signed at the XIII Russia-Kazakhstan Interregional Cooperation Forum in Astana, Kazakhstan, which was attended by Nursultan Nazarbayev and Vladimir Putin, the Presidents of the Republic of Kazakhstan and the Russian Federation respectively.
Under the Memorandum, EuroChem has committed to continuing its investment in Kazakhstan as it aims to construct a fertilizer production complex near its phosphate rock mining operations in the Jambyl region and furthering its contribution to improving the local social and transport infrastructure. In turn, the Kazakh authorities, both at the state and local level, intend to facilitate a supportive legal and business environment for the seamless implementation of the company's project.
EuroChem is one of the largest investors into Kazakhstan and it has been developing its phosphate rock mining and fertilizer production project in the Jambyl Region since 2013. The Group has completed the first stage of this project with the production of phosphate rock up and running at full capacity of 640 KMT per annum from the beginning of this year. During the second stage of the project, EuroChem plans to further increase the production of phosphate rock up to 1.5 million metric tonnes (MMT) per year as it aims to construct a fertilizer production complex in the region with the capacity of over 1 million tonnes of potassium sulphate and dicalcium phosphate per year, as well as 1 million tonnes of by-products.