2012.07.02 | Soyuzkali’s launch scheduled for February with headquarters in SwitzerlandSoyuzkali - the new mineral fertilizer trader established by Russia and Belarus may start operating next February and will be registered in Switzerland, Belarus’ First Vice Premier Vladimir Semashko told reporters Friday.
At the same time, the Belarusian Potash Company, the export trader of Russia’s Uralkali and OJSC Belaruskali will continue operating for a certain period.
According to Semashko, Soyuzkali will be registered in Switzerland and operate under Swiss business regulations in order to gain access to cheap credit resources.
“Borrowing loans at 10-12% per annum is quite different from paying just 2-3%. Uralkali’s Swiss-based trader last year took out a $1bn loan at 2.5% per annum, which enabled the company to save around $50 million on credit costs,” Semashko said.
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