EuroChem signs declaration of intent with Yunnan Tobacco Company
St. Petersburg, Russia, 2 June 2017 – EuroChem Group AG (“EuroChem” or the “Group”), a leading global fertilizer company, and H.K. Migao, its joint-venture partner, have today signed a declaration of intent for the production, distribution and sale of fertilizers in China with Yunnan Tobacco Company and the Qujing local authorities of Yunnan province, southern China.
Following the declaration of intent, the signatories will explore the possible construction of a second potassium nitrate (NK) production line at the EuroChem Migao joint-venture facility with a projected annual capacity of 80,000 tonnes. A further facility for the production of water-soluble NPK fertilizers could also be built.
The parties will examine the possibility of subsequent distribution and sales of these fertilizers in China. The local authorities in Qujing have confirmed their intention to provide comprehensive support for these initiatives.
EuroChem Migao joint venture’s first fertilizer production line was established in 2013 in Luliang, Yunnan and produces 100,000 tonnes of NPK and 70,000 tonnes of potassium nitrate per annum.
The declaration of intent was signed at the St. Petersburg International Economic Forum.
About EuroChem Group AG
EuroChem is a leading global fertilizer company producing primarily nitrogen and phosphate fertilizers, as well as certain organic synthesis products and iron ore. The Group is vertically integrated with activities spanning mining and hydrocarbons extraction to fertilizer production, logistics, and distribution. EuroChem is currently developing two sizeable potash deposits in Russia with its VolgaKaliy and Usolskiy Potash greenfield projects. Headquartered in Zug, Switzerland, the Group operates production facilities in Belgium, China, Kazakhstan, Lithuania, and Russia and employs more than 25,000 people globally.
For more information please contact:
Media
Guy Dresser
Head of Communications
EuroChem Group AG
guy.dresser@eurochem-corporate-qa1b64.azurewebsites.net
Elena Kalinskaya /Leonid Fink
FTI Consulting
+44 (0) 20 3727 1000
eurochem@fticonsulting.com
Russian Media
Vladimir Torin
Head of Public Relations
MCC EuroChem
vladimir.torin@eurochem-corporate-qa1b64.azurewebsites.net
Investors
Olivier Harvey
Head of Investor Relations
EuroChem Group AG
olivier.harvey@eurochem-corporate-qa1b64.azurewebsites.net