TSXV:EPO.H - Post by User
Post by
DriverAMGon Dec 11, 2014 10:38am
313 Views
Post# 23219089
This doesn't help !!
This doesn't help !!Dec 11: The reliability in Indian potash imports would improve over the long run following signing of a MOU for promotion of an Indo-Russian potash joint venture.
8The MoU between Russia's ACRON and NMDC-led Indian consortium to implement an understanding reaached to acquire equtiy stake in a upcoming potash mine in Russia was signed during the two-day India-Russia summit that concluded in New Delhi on 11th December.
8According to an official release, the MOU “envisages acquisition of stakes by a consortium of Indian companies in a US$ two billion project of ACRON, a Russian fertilizer company.”
Earlier, in a disclosure to the BSE, Mumbai on 28th November, National Fertilizers Limited (NFL ) stated: “We have to inform you that ACRON Group, a leading Russian and global mineral fertilizer producer has offered 30% stake in the Fertilizer Project being undertaken by its subsidiary M/s. Verkhnakamsk Potash Company (VPC) to develop the Talitsky Potassium – Magnesium deposit in Perm Krai, Russia. Department of Fertilizers (DOF) has constituted a Consortium consisting of NMDC, RCF, KRIBHCO, FACT and NFL. NMDC would act as lead partner with 50% of the Indian stake in the project and the remaining 50% shall be shared by RCF, KRIBHCO, FACT and NFL in proportion of 3:3:2:2 respectively. The overall investment in Project would be around USD 2 billon.”
8NFL Board in their meeting held on November 13, 2014 accorded in principle approval for participating in consortium for due diligence.
8NFL added: “completion of due diligence, based on feasibility study and ways and means position of the Company, participation in the project as a equity partner in the consortium shall be worked out.”