OREANDA-NEWS  Uralkali has signed an agreement with the Indian importer of mineral fertilizers Indian Potash Limited (IPL) for the supply of potassium chloride until September 30, 2023, the press service of the Russian company reported. It is specified that the price of potash fertilizers supplied to India is $422 per ton on the terms of delivery to the buyer's port (CFR).

"The agreement reached objectively reflects the current situation in the industry. We see that the market has positively accepted our initiative, and we expect that the Indian contract will become one of the main price benchmarks this year," the company's press service quotes Uralkali CEO Vitaly Lauk as saying.

Earlier, Vedomosti reported that the fertilizer manufacturer terminated two special investment contracts (SPIC) with the Ministry of Industry and Trade and the Perm Region. One SPIC was signed for the construction of the Polovodovsky potash plant, the other for the new Solikamsk–2 mine. The termination is stated in the ministry's SPIC register, which the newspaper has reviewed.

Uralkali signed the first type of SPIC (SPIC 1.0) for these projects in June 2019. The volume of investments in the Polovodovsky combine was estimated at 117.8 billion rubles, in Solikamsk-2 – at 36.8 billion rubles. Their planned capacities are 2.8 million and 2.3 million tons of ore per year, respectively.