Uralkali Agrees to Create JV in Malaysia
OREANDA-NEWS. Uralkali (LSE: URKA; the Company), one of the world's largest potash producers, announces that its trading arm Uralkali Trading SA has concluded an agreement with Federal Land Development Authority of Malaysia (FELDA) to create a joint venture for potash distribution.
The joint venture will start operating from 1 January 2014and will focus on securing potash deliveries to the plantations of FELDA and other government plantations in Malaysia and other countries.
Viktor Belyakov, Uralkali acting CEO, commented:
“This joint venture is another step to further improve our sales net in South East Asia, which is a strategically important region for Uralkali. It will also strengthen our relations with state customers in this region. Southeast Asian countries pay much attention to expanding agriculture production. Realisation of such joint projects is a good opportunity for suppliers and customers to achieve long-term goals including increase in crop yields, ensuring food security and, consequently, growth in fertiliser consumption.”
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