OREANDA-NEWS. The state-owned Belarusian company OAO Belaruskali invested in production development in Q1 as much as Br709 billion (USD 71 million), a company representative told.

The companies channelled the money into the existing project and the construction of a new chemical plant that will increase the ratio of potash conversion and manufacture import substitution products (sodium hypochlorite, hydrochloric acid). The pre-launch of the chemical factory is scheduled for September 2014.

Belaruskali's sales proceeds grew 5.8% year on year in Jan-Mar 2014 to Br5.8 trillion (USD 580.6m).

The state-owned Belarusian company OAO Belaruskali is one of the world's largest manufacturers of potash fertilizers, employing about 18,495 personnel. It operates the Starobinskoye potash salts deposit and comprises four mine groups, auxiliary shops and support units.

Belaruskali controls 16% of the world's potash fertilizer market.