BELARUS NEWS AND ANALYSIS
DATE:
25/01/2011
Sinochem, CNOOC to jointly acquire equities of Belarus potash fertilizer produc
BEIJING, Jan 25, 2011 (Xinhua via COMTEX) --
Sinochem and CNOOC (CEO.NYSE; 00883.HK) are negotiating with Belarusian government in acquiring some equities from Belarusian Potash Company (BPC), reported China Chemical Industr y News on Tuesday.
The report did not elaborate the other details. BPC, Belarus' only potash fertilizer producer, yields 15 percent of the global potash fer tilizer and its potash fertilizer exports account for 16 percent in th e world.
Sinochem, China's largest fertilizer producer, is seeking opportuni ties to acquire more overseas assets. It in last year tried to bid for the assets of Canadian Potash Corp., the worlds' largest potash produ cer, after a BHP Billiton bid was rebuffed, but finally abandoned the bidding.
China has set a target to newly add one million metric tons (tonnes )/year of potassium chloride production capacity during the 2011-2015 period. For this end, China plans to find new reserves through assessi ng potash mines in Qaidam basin, Lake Lop Nur, Sichuan Basin and weste rn Yunnan. (Edited by Lin Fanjing, linfanjing@xinhua.org)
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