PRESS: Uralkali to produce 11 mln tns of potash muriate in 2020

MOSCOW, Jul 2 (PRIME) -- Russian fertilizer producer Uralkali expects to make 11 million tonnes of muriate of potash (MOP) in 2020, almost flat on 2019, when output by 3.5% to 11.1 million tonnes, CEO Dmitry Osipov said in an interview to Kommersant business daily published on Thursday.

 “(Production in 2020 would amount to) 11 million tonnes with the capacity standing at 12 million tonnes. But the final figure will depend on market situation,” Osipov said as quoted by Kommersant.

Uralkali exports the bulk of its products through its own Baltiysky terminal in St. Petersburg. Its nominal capacity is 5 million tonnes, but the company transships almost 8 million tonnes through the terminal after reconstruction, and has plans for a further expansion of the terminal, he said.

“At the same time, we are at a final stage of discussion about participation in Ultramar company’s project in the port of Ust-Luga, where it is creating a large hub for transshipment of fertilizers and where the majority of Russia’s largest producers of fertilizers will work. … We also plan that we will not enter the project as co-founders of the port, but rather get a long-term transshipment contract,” he said.

Osipov said that Uralkali had already raised U.S. $1.1 billion in 2020, and solved all issues with debt redemption until the end of the year. The company has no plans to raise money in 2020 as it has enough funds to finance the investment program.

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