Urals | Materials, extraction

Silvinit to invest $1.5bn in field development

30 Jul '08
Perm region-based potash fertilizer manufacturer Silvinit plans to rack up $1.5bn to build an ore and mining complex as part of a development project for the Polovodsky deposit of the Verkhnekamsky potash and magnesium field in Perm Region, the company said today.

Silvinit is considering the launch of a factory with the projected annual capacity of 2.5 million tons of potash fertilizers within eight to ten years.

Project documentation has been drafted by St. Petersburgs research institute VNII Galurgii.

Marchmont reported Tuesday that Silvinit had already paid government another $1.5bn for a license to develop the deposit.
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Locations: Perm; Permsky kray

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