Updated at 11:59,21-05-2018

Lukashenko Prefers Not Rushing with Belaruskali Privatization


President of Belarus Alexander Lukashenko said on December 8 he did not want to rush with Belaruskali privatization. During the meeting on the development of the potash industry, the head of state also voiced the minimum price in case of its sale - $30 billion.

"We do need to sell this company, a share or two, or ten, or the whole stake. So, if someone starts screaming that the price is very high and no one is going to buy it at such a price, then let it be so. There's no need for that. And I want our miners know it as well," BelTA quoted the head of state.

At the same time Alexander Lukashenko emphasized that the state was ready to consider proposals of potential investors. "Who wants to participate in the acquisition of shares of this company - you are welcome, we will dialogue with you on this issue," said the president.

Belarus is ready to increase production of potash fertilizers

Alexander Lukashenko also says that Belarus plans to increase output of potash fertilizers to 15 million tons. The head of state doesn't object to the development of potash deposits in Belarus by foreign investors.

"Sylvinite ore deposits are the country's national heritage. But this does not exclude the foreign capital or participation of investors with the most advanced technologies in order to fast-track the development of the industry," said Alexander Lukashenko.

The President stressed that anyone could investing in this industry on a competitive basis. According to the President, Republic of Belarus welcomes joint mutually beneficial cooperation in any field.

The President also reported on the increase in Belaruskali capacity. In 2012, it is planned to commission Berezovski and then Krasnoslobodski mines with the aim to reach the minimum amount of 11 million tons by 2015. The development of other mines is also projected in the future.

Lukashenko demands from potash industry management to consider the world trends

Alexander Lukashenko demanded from the leaders of the industry to take into account global trends in determining the most optimal methods of potash sales. The President also drew attention to changes in the ownership structure of the two world potash producers – Silvinit and BRIC.

"Now there is one master there, and we need to correctly build mutually beneficial relations with him," said the President.

In June 2011, the Belarusian president announced about the potential sale of Belaruskali state-owned stake. According to the head of state, $30 billion is a decent price for the company. Alexander Lukashenko also pointed out that from July 1, this amount would be indexed adjusted for the dollar inflation.

Sberbank of Russia confirmed the enterprise price, voiced by Alexander Lukashenko, after its thorough evaluation. Meanwhile, analyst at Raiffeisenbank Yuminov Constantine believes that Belaruskali fair price is 1.5-2 times lower than the stated $30 billion.