A Chinese firm and a Kazakhstan firm have agreed to form a joint venture to develop a major fertilizer production and distribution hub in southwest China’s Chongqing municipality. Under the deal between Kazakhstan Potash Corporation (KPC) and Chongqing Agricultural Production Material Group, the two sides will jointly build a major potash fertilizer distribution center and the largest compound fertilizer producer in western China, with an annual turnover of around 3 million tonnes…Full Article: China Daily Aug 2016
- As a result of the JV deal, Chongqing will import Kazakh potash by rail (Chongqing-Xinjiang-Europe route). The potash will be sold throughout southwestern China, as well as exported to Japan and Southeast Asia.
- In July 2016, China announced it discovered a large potassium deposit in Qinghai Province. China applies potassium fertilizer on approximately 30 million hectares of farmland and imports approximately 6 million MTs of potassium fertilizer every year.
- In May 2016, China offered to invest US$1.9 billion in Kazakhstan’s food processing industry. The Chinese investment in Kazakhstan’s food processing industry was part of the country’s Belt and Road Initiative.
- In 2014, China consumed 6.4 million MTs of potash (potassium compound).
- In December 2014, Kazakhstan Potash Corp (ASX:KPC) signed a framework agreement with China as part of the latter’s “Belt and Road Initiative”.
- In the autumn of 2013, Chinese President Xi Jinping launched The Silk Road Economic Belt and the 21st-century Maritime Silk Road, a strategic initiative to boost the economic development and trade of countries lying along the South China Sea, Bay of Bengal, Arabian Sea, Indian Ocean, and Red Sea, as well as overland in Central Asia and Europe.