OREANDA-NEWS. May 26, 2008. A decision to sell a share holding of the Gomel Chemical Plant can be taken in 2008, Vice-Premier of Belarus Vladimir Semashko told reporters at the conference of the International Fertilizer Industry Association (IFA) taking place in Vienna.

Vladimir Semashko noted that the issue to sell a share holding of the Gomel Chemical Plant to a potential investor is under elaboration. According to him, the Russian company Evrokhim is considered as a potential investor of the project.

The First Vice-Premier underlined that an array of compulsory conditions would be provided for the share holding sales. A potential investor has to possess resources for shares acquisition as well as for investing the company’s development. “The investment project should envisage specific measures that is set to enable the company increase the production 2-3 times, secure the growth of wages and preservation of working places,” he noted.

Vladimir Semashko notes that today there is high demand for fertilizers at the world market and there is the most favourable moment for selling the Gomel Chemical Plant share holding with the purpose of attracting investments.

The Gomel Chemical Plant produces mineral fertilizers, salts and acids. The company accounts for over 90% of Belarus’ market of phosphorous fertilizers. The company employs 2,700 professionals.

This year, the Gomel Chemical Plant produced 182 thousand tonnes of phosphorous fertilizers, of them 162 thousand tonnes were delivered for the Belarusian agriculture purposes. In 2007, the company made 157,2 thousand tonnes of phosphorous fertilizers (2,7% to 2006), 137,1 thousand tonnes were sent to the agricultural companies of the country (6,8%).