While India refused to participate in the potash project “Akron”

Moscow. January 28. The Indian company has refused participation in the project “Akron” for the development of Talitsky area Verkhnekamsk potash Deposit in the Perm region because of problems with the evaluation of the project, told the newspaper The Economic Times.

“We abandoned plans to participate in its potash project “Akron”, as it is not economically feasible because of problems with the assessment,” the source told the newspaper in an Indian company, which was to enter the draft.

More than a year ago, Acron signed a Memorandum for sale of Indian NMDC 30% of shares of “Verkhnekamsk potash company”, which owns the license for development of the site.

Expected, writes the Indian newspaper that NMDC will buy in the project, which is estimated at $2 billion, a share of 15% and another 15% will acquire other companies-participants of the consortium. The Indian company has evaluated the feasibility study of the project.

India covers 100% of its requirements of potash fertilizer import.

The group “Akron”, OJSC “Akron”, JSC “Dorogobuzh, Hongri Acron and JSC North-Western phosphorous company”, in 2015, reduced the production of mineral fertilizers by 1.5% to 5,015 million tons. In 2015 the prices for mineral fertilizers have undergone significant decline.