URALCHEM intends to participate in the privatisation of the Zimbabwe Chemplex

© RIA Novosti / Valery Legitimerade in fotoreceptor of the Board of Directors of UCC URALCHEM Dmitry Mazepin. Archival photoURALCHEM intends to participate in the privatisation of the Zimbabwe Chemplex© RIA Novosti / Valery Legitimerade the image Bank

URALCHEM intends to participate in privatisation in Zimbabwe, the largest manufacturer of phosphoric fertilizers company Chemplex, which is now completely controlled by the government, told journalists the Chairman of the Russian-Zimbabwean business Council, the main beneficiary and the head of the Board of Directors of «URALCHEM» Dmitry Mazepin.

«One of our main ideas here — we are looking for partners who represent local business. One of the largest company Chemplex, it produces phosphate fertilizers. We met with the management of the company, and not for the first time,» he said following the meeting with the CEO of the industrial development Corporation Zimbabwe (IDCZ) Benjamin Kumalo.

«We agreed that the company will be prepared for privatization. The government of Zimbabwe will prepare a data room where all data about this company. We were informed that there was interest from 26 local and international companies, and «URALCHEM» will be one of those companies that will participate in the privatization of Chemplex,» said Mazepin.

According to him, the parties have not yet discussed the particular share purchase. «Now is the designated time frame — from November (2018) and February (2019), when will be the data room and the government of Zimbabwe to hold talks with each company. In early February it is planned to sum up results,» he said.

The acquisition of a stake in Chemplex will allow URALCHEM to provide phosphorus, which is a necessary element for the production of mineral fertilizers.

«As you know, Uralkali produces potash fertilizers, URALCHEM is a complex and nitrogen, and we do not have enough phosphate. Chemplex — phosphorus company, we want for the production of phosphorous-containing fertilizers have all three components,» said Mazepin.