Ru En

Verkhnekamsk Potash Company, LLC Signs Memorandum on Joining Belkomur Project

Today, Acron subsidiary Verkhnekamsk Potash Company, LLC (VPC) signed a memorandum with Interregional Investment Company (MIK) Severozapad-Prikamye, LLC on joining the Belkomur project. VPC submitted an official application to join the Belkomur project without participating in the MIK’s authorised capital. Submission of an application is regarded as ratification of the Project Protocol. The memorandum signing was attended by Deputy Chair of the Perm Krai Government Yury Utkin, Head of the Perm Krai Representative Office of the RF Government Ilya Adamsky, MIK Director General Yury Demochkin, Acron Vice President for Mining and Chemical Production Development Sergey Fedorov, and VPC Director General Vladimir Zakharov.

The official name of the Belkomur project is “Integrated Programme of Industrial and Infrastructure Development in the Komi Republic, Perm Krai and Arkhangelsk Region.” The project envisages implementation of a number of large-scale investment projects with government financing for infrastructure development. Belkomur is an important part of the RF Railway Development Strategy through the year 2030, which received government approval on September 6, 2007.

The goal of the project is to develop industrial and infrastructure complexes, eliminate infrastructure dead ends, create new production facilities and jobs, and gain access to mineral and forest resources that were previously inaccessible. A new trunk railroad from Solikamsk to Arkhangelsk through Gainy and Syktyvkar, with a total length of 1,295 km, will be established through the construction, reconstruction and repair of individual sections of railway. This rail line is required to support construction and operations at new production facilities. The estimated cost of the railroad project is RUB 118 billion.

The project envisages investing in the construction of a number of large, new production facilities. In 2012-2016, Verkhnekamsk Potash Company, LLC will build a potash mine and a mining and processing complex at the Talitsky licence area of the Verkhnekamsk potassium-magnesium salts deposit.

In March, 2008, Verkhnekamsk Potash Company, LLC (VPC), a subsidiary of JSC Acron, won a tender to develop the Talitsky license area at the Verkhnekamsk potassium-magnesium salts deposit located in Perm Krai.