A Memorandum of Cooperation has been signed by Mr. Liu Deshu, Chairman of Board of Sinochem Group and Ms. Elena Kudryavets, Director General of Belarusian Potash Co. It is for a period of 5 years from 2015-2019.
BPC and Sinochem Group intend to make continued joint efforts that address emerging issues related to potash fertilizer exports and imports, whereby the parties undertake commitments to sell and purchase 4 million mt of Belarusian potash fertilizers during a term of 5 years.
This quantity includes both firm and optional volumes. The total value of the fertilizer to be supplied to the PRC shall be around $1.3 billion on a current value basis. The exact price level is subject to further discussion.
The parties are confident that the Memo shall contribute to the market development and strengthen long-term and mutually beneficial collaboration both between the parties and the countries in general.
Mr. Liu Deshu, Chairman of Board of Sinochem Group, pointed out that “With a long-term, friendly and strategic cooperation relationship, Sinochem and BPC are complimentary to each other in terms of market and product and enjoy a sound foundation and a broad prospect for cooperation,” said Deshu. "We believe that under the principle of mutual benefit, we will continue to deepen our cooperation, cultivate our friendship, work together to support and guarantee China’s agricultural development and food security and make persistent efforts in active response to Chinese President Xi Jinping’s strategic conception of One Belt and One Road."
"We value respectful and trust-based relations established between Sinochem Group and BPC that are predicated on harmonious and balanced market development," said Kudryavets. "Our track record in delivering potash fertilizers to the PRC suggests that BPC will continue to be a leader in this market. We are interested in further cooperation supporting the companies’ growth and having a positive effect on the development of Belarusian-Chinese relations in general."