24 november 2016

Joint press release of Belarusian Potash Company and China Chemical Construction Corporation (CNCCC) following the signing of the Memorandum of Cooperation

On the November 24, 2016 during the visit of the Chinese delegation to the Republic of Belarus, Belarusian Potash Company and CNCCC, a subsidiary of CNOOC, signed a new Memorandum of Cooperation for the next three years. The first Memorandum between BPC and CNCCC was signed in December 2013 and was fully executed by the parties.

The new Memorandum marks another milestone in the development of business partnership between BPC and CNCCC; it is based on the experience of the successful and effective cooperation between the companies. The Memorandum was signed by Mr. Xia Qinglong, President of CNCCC, and Ms. Elena Kudryavets, Director General of JSC Belarusian Potash Company.

The Memorandum provides the delivery of 1.5 mln of potash fertilizers to China from 2017 to 2019. The supply volumes under the new agreement are significant for both parties, and the fact of the regular Memorandum’s signing demonstrates the long-term nature of cooperation between the Belarusian and Chinese companies.

The Director General of JSC Belarusian Potash Company Elena Kudryavets highlighted the importance of this document and noted: “We are confident that the signed Memorandum will contribute to the strengthening of our long-term and mutually beneficial cooperation with CNCCC. Mutual respect, shared market vision and joint desire for its harmonious and sustainable development – are the keys to successful cooperation between our companies.”

In return, the President of CNCCC Xia Qinglong mentioned significant progress of the Belarusian supplier on the PRC market. “I was impressed by the high level of production and the most advanced technologies I saw on Belaruskali. The responsible approach, reliance and quality – this is what we value in our Belarusian partner, and what gives us confidence in the prospects of further mutually beneficial cooperation,” said Xia Qinglong.

Together with CNCCC, BPC intends to continue the optimization of potash supplies to the market of China and advancing of logistical solutions confirming broad prospects of cooperation between the Republic of Belarus and the People’s Republic of China.

For the reference:

China Chemical Construction Corporation (CNCCC) is one of the main potash importers to PRC. This major company produces and sells fertilizers and chemical products; 100% of CNCCC is owned by CNOOC, the leading Chinese company in the sphere of offshore oil extraction.

Belarusian Potash Company – is one of the largest potash exporters in the world. In 2015 the BPC’s share in the global export of potash fertilizers comprised 19,3%. Belarusian potash is supplied to more than 100 countries of the world.