The country is eager to compensate the severe shortage of fertilizers.
The Indian government considers urgent the task of acquiring shares in Belaruskali, one of the world's largest manufacturers and suppliers of fertilizers. The Indian authorities placed this question on the agenda in order to compensate the severe shortage of potash and other internal resources in the country.
Along with the projects to buy shares of Belaruskali, the Ministry of Chemical Industry of India stresses the need to foster and accelerate the implementation of joint projects for the production of chemicals and fertilizers in Ghana and Indonesia, as well as to develop deposits in Ethiopia by long-term agreements with companies in Togo, Nigeria, Egypt, Australia, Peru, Argentina, Brazil and other countries. It is reported by the Indian edition Business Standard, quoting official sources.
The Indian authorities intend to expand the powers of state companies, encourage them to participate more actively in the implementation of joint projects with foreign companies and cooperate for creation of joint ventures.
The President of Belarus Aliaksandr Lukashenka said in May that the Belarusian authorities were ready to sell any enterprise, even Belaruskali, the price of which was set $32bln. Before this, in March, the President declared that Belaruskali cost $30bln.
About a year ago, Russia’s Uralkali, belonging to Suleiman Kerimov, abandoned the plans to buy Belaruskali.
In mid-May, First Deputy Prime Minister of Belarus Uladzimir Siamashka said that the government would never sell Belaruskali. According to him, the Belarusian authorities were not in talks with Indian Potash Ltd, which had previously wanted to buy shares of Belaruskali.
January 24, Ambassador of India Manoj Kumar Bharti in Minsk told about the intention of India to purchase a stake in Belaruskali.
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