URALCHEM joined the Association of Economic Cooperation with African States

URALCHEM joined the Association of Economic Cooperation with African States

URALCHEM became a member of the Association of Economic Cooperation with African States (AECAS). Together with the Association, the holding will work on a strategy for entering African markets and increasing the share of Russian business on the African continent.

URALCHEM has already established uninterrupted supplies of products to Zimbabwe, Zambia, Kenya, Angola, and Mozambique, and it is working on the export of fertilizers to other countries. The company is considering the construction of a logistics hub and is developing educational projects in cooperation with African agronomic schools. Within the framework of the Russia–Africa Forum in 2019, URALCHEM and Grupo Opaia SA have signed a memorandum, which implies the creation of a joint complex for the production of ammonia and urea. The approximate amount of investments will be $ 1.2–1.3 billion.

Dmitry Mazepin, Chairman of the Board of Directors of URALCHEM JSC, Deputy Chairman of the Board of Directors of Uralkali PJSC, a Member of the Bureau of the RSPP (Russian Union of Industrialists and Entrepreneurs) Management Board:

“URALCHEM pays great attention to new markets, investing in their development, and Africa is one of such markets. Our company is already a primary partner of African countries both in terms of technology and product export. We are ready to share our best practices for the further development of the local agricultural sector and provide the continent with high-quality mineral fertilizers developed using the latest technologies. We hope that cooperation with AECAS will allow us to strengthen our position in the African market and make an even greater contribution to its further prosperity.”

“The African fertilizer market is literally and figuratively an unplowed field for Russian companies,” Anna Belyaeva, AECAS Executive Director, commented on the news. “The population of the continent exceeds 1 billion people, so Africa's agriculture is in need of advanced technologies that could meet the growing demand for food. Russian business — and URALCHEM in particular — has a lot to offer in this area.”

AECAS is the first and only organization in Russia created to develop economic relations with the entire African continent. It is aimed at developing both resource and non-resource exports, as well as imports and the implementation of investment projects exclusively in African countries.