OREANDA-NEWS. July 11, 2012. Russian fertilizer producer Uralkali and Belarus’ Belaruskali have no intention of attracting co-investors into their joint project Soyuzkali, Uralkali CEO Vladislav Baumgartner said on June 23.

“As for the charter capital, we do not want any other players to enter Soyuzkali. It will be a joint venture only between Belaruskali and Uralkali,” Baumgartner told reporters at the St. Petersburg International Economic Forum.

He added that the JV is to move to Switzerland by the end of 2013. Potash distribution is to remain Soyuzkali’s key business.

“At the first stage it will only be potash fertilizer. The decision has not been made yet on whether to expand the business of the distribution company to include other kinds of fertilizers,” he said.

Earlier in June, Belarus’ First Deputy Prime Minister Vladimir Semashko said Soyuzkali should be fully set up by the end of 2012 with its charter capital to be divided on a parity basis.