OREANDA-NEWS. November 15, 2012. EuroChem announced that it will invest 2.5 billion roubles in the construction of a new residential community in the town of Berezniki. Located in close proximity to the company’s Usolskiy potash development, the residential development includes 70 two-story cottages and 20 five-story apartment buildings with a total of 650 apartments.

The 38.5-hectare land plot will be developed on a co-financing basis with regional and municipal support.

The development plans also include extensive social infrastructure such as a school, a sports center, a hotel, and 100 service apartments. Most of the facilities are set to be completed by 2016 with construction of the hotel and service apartments expected to start as early as 2013.

One of EuroChem’s two greenfield potash projects in Russia, the company plans to invest a total of 75 billion roubles at its Usolskiy potash project, investments which include potassium chloride mining and beneficiation facilities, railroad, and supporting social infrastructure in the Perm region. The first phase of the project, which involves sinking the mine’s first two shafts to a depth of approximately 500 meters, will have an annual production capacity of 2.3 million tonnes of potassium chloride. Both shafts are being sunk using a conventional freezing technology. As of 31 October, the skip shaft had reached a depth of 340 meters and the cage shaft was down to 290 meters.