Eurochem Signs MoU with Kazakh Authorities for Phosphate Rock Mining

Kazakhstan: EuroChem, one of the largest fertilizer manufacturer globally, has signed a MOU with Kazakhstan government for its continued investments in its phosphate rock mining and fertilizer operations in the country. The company aims to construct a fertilizer production complex near its phosphate rock mining operations in the Jambyl region. The company had started the production of phosphate ore from the Kok-Jon phosphate rock deposit in the Jambyl region, Kazakhstan in 2014. The company has effectively accomplished the first stage of this project with the production of phosphate rock mining operations running at full capacity of 640 thousand metric tons per annum since the beginning of 2016. In the second stage, EuroChem is planning to additionally raise the production of phosphate rock up to 1.5 million metric tons per year, in line with its plans of constructing a fertilizer production complex in the region with the capacity of more than 1 million tons of potassium sulphate and dicalcium phosphate per year.

TechSci Research depicts that this agreement would aid to the developing market of phosphate compounds in the region. The smooth operations of Eurochem in the country and continuous support of the regional government to the company has paved a positive market trend for the fertilizers industry in the country. The rise in fertilizer production would lead to a stronger market for water soluble fertilizers not only in Kazakhstan but globally.

According to the recently published report by TechSci Research, “Global Water Soluble Fertilizers Market By Type, By Composition (Straight and Complex), By Grade (NPK, NP, PK and Others), By Structure, By Application, By Crop, By Region, By Sales Channel, Competition Forecast and Opportunities, 2011-2021”, the global market for water soluble fertilizers is projected to grow at a CAGR of more than 5% over the next five years, on account of growing demand for food grains, depleting water levels, shrinking availability of arable land, coupled with high efficiency and ease of usage of water soluble fertilizers as compared to conventional chemical fertilizers. In 2015, Europe dominated the global water soluble fertilizers market, followed by North America and Asia-Pacific. The global market for water soluble fertilizers is highly consolidated and dominated by few major players such as Coromandel International Ltd., Yara International, Agrium Inc., and Haifa Chemicals Ltd.