Acron offers 30% stake to India in potash project in Russia

Acron Group, a leading Russian and global mineral fertiliser producer, has offered 30 per cent stake in the fertiliser project being undertaken by its subsidiary Verkhnakamsk Potash Company (VPC) to develop the Talitsky Potassium - Magnesium deposit in Perm Krai, Russia to India.
 
The Department of Fertilizers (DOF) has constituted a consortium consisting of National Mineral Development Corporation(NMDC), Rashtriya Chemicals&Fertilisers (RCF), Krishak Bharti Cooperative (Kribhco), Fertiliser and Chemicals Travancore (FACT) and National Fertiliser Ltd (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 the project is expected to be around $ 2 billon.The potash manufactured through this agreement will be exclusive use in India.
 
“NFL Board in their meeting held on November 13, 2014 have accorded in principle approval for participating in consortium for due diligence and on 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,” said National Fertiliser Ltd in a BSE filing on November 28, 2014.
 
Acron is a Russian group of interrelated companies and one of the leading global mineral fertiliser producers in the world, primarily potash. The pact with Acronis over and above the agreement which Indian Potash Limited has with Uralkali, another potash manufacturing Russian company for import of potash.