EDB and EuroChem outline cooperation parameters for operations in Kazakhstan

The implementation of these plans requires significant long-term investments, and consequently, the parties have agreed to consider the possibility of EDB’s financing the project, hold negotiations, align positions and actions, and review the project data. All these actions are expected to enable the bank to make a final decision on the issue in 2010. “We believe this project will contribute to further development of the integration processes in the CIS and the Eurasian economic community, promote development of free-market economy in Russia and Kazakhstan, strengthen trade and economic relations between the two countries as well as boost their economic growth,” the MoU signatories noted.  

These two companies are key players in their sectors. For instance, EuroChem Mineral and Chemical Co., the largest manufacturer of mineral fertilizers in Russia, which is ranked among top three European and top ten world leading companies in the sector, is a vertically integrated company that manages the largest Russian producers of heavy chemicals and raw material mining plants. It incorporates mining and processing enterprises, as well as logistics companies and distribution network, in various regions around the world. The company has adopted a development strategy to the year 2012 that envisages an investment of $3.2bln in production development and construction of new facilities aimed at increasing its manufacturing capacities. 

The Eurasian Development Bank, with chartered capital in the excess of $1.5bln, is an international financial institution founded in 2006 by Russia and Kazakhstan in order to promote market economy development of the member states, foster economic growth, and strengthen trade and economic relations.