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Uralkali Signs Two Trilateral Special Investment Contracts with RF Ministry of Industry and Trade and Perm Region

06.06.2019

Uralkali (the Company; Moscow Exchange: URKA), one of the worlds largest potash producers, has signed two trilateral special investment contracts (SICs) between the Ministry of Industry and Trade of the Russian Federation, Perm Region and the Company in order to stimulate investments into the national industry.

The documents were signed by Denis Manturov, Minister of Industry and Trade of the Russian Federation, Maxim Reshetnikov, Governor of Perm Region and Dmitry Osipov, Uralkali CEO, during the St. Petersburg International Economic Forum.

Uralkali plans to implement two new projects  Solikamsk-2 and Polovodovsky Project in order to increase the production of potash fertilizers in Perm Region to a capacity of 2.3 and 2.8 million tonnes respectively.

Special investment contracts provide the Company with the right to pay 0% profit tax until 2026 and 0% property tax until 2029. Uralkali plans to start production under the indicated SICs in 2024 (Solikamsk-2) and in 2027 (Polovodovsky Project). Total investment into the projects under the SICs will amount to about RUB 155 billion, while the number of jobs created  to about 1900.

Denis Manturov, Minister of Industry and Trade of the Russian Federation, commented:

 The successful implementation of these projects will enhance Russias presence in global export markets and support the growth of domestic fertilizer consumption. Moreover, this will create the new jobs both at the company and in allied sectors related to the functioning of the facilities along with substantial increase the amount of tax and non-tax revenues for the budgets at all levels.

Dmitry Osipov, Uralkali CEO, commented:

 We are grateful to the Ministry of Industry and Trade of Russia and the authorities of Perm Region for their support of such special investment projects, which have already become a key instrument for enhancement of investment activity. This mechanism allowed the Company to commence the dynamic implementation of these investment projects.

Uralkali (www.uralkali.com) is one of the worlds largest potash producers and exporters. The Companys assets consist of 5 mines and 7 ore treatment plants in the towns of Berezniki and Solikamsk (Perm Region, Russia). Uralkali employs ca. 12,000 people in the main production unit. Uralkalis shares are traded on the Moscow Exchange.

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Cardinal rules

Smoking in mines is prohibited.
Work at heights without wearing a safety harness is prohibited.
Work in electrical installations under voltage is prohibited.
It is forbidden to perform work and stay in the bottomhole zone during the operation of the mining machine.
Loading and unloading operations when people are in the danger zone are prohibited.
Working in underground mines with unsecured and/or unassembled roofing is prohibited.
It is forbidden to carry out repairs and maintenance of conveyors without disconnecting from energy sources, use of conveyors for transfer of people and goods (materials and/or equipment), crossing (either above or under) operating conveyors by employees are not allowed.
It is forbidden to carry out welding and flame work in underground mines and mine buildings without the necessary safety measures preventing fire.