MINSK, Belarus--(BUSINESS WIRE)--CHEMMONITOR.COM – In October 2011 the Republic of Belarus and a British company GCM Global Energy Plc have concluded an investment agreement. According to the agreement investor will enjoy an exclusive right to extract potassium salts from the Belarusian deposits.
This is the first investment agreement concluded by the Republic of Belarus that allows a foreign investor to extract potassium salts.
The investment project stipulates for construction of a mining and processing complex, with total investments of approximately 1,5 billion US dollars. The complex is planned to be put into operation by the end of 2020. Its projected annual capacity equals around 1.1 million tons of potassium salts, the employing capacity is reported to be more than 1 500 employed.
The legal side of the investment project is supported by the law firm Vlasova Mikhel & Partners, which has been active on the Belarusian law services market for more than 20 years now. The law firm has already supported a number of significant investment projects for the last several years.
“Attracting GCM Global Energy Plc as an investor to develop deposits of potassium salts became possible due to the latest changes in the legislation of the Republic of Belarus which provide foreign investors with additional benefits and privileges. This should be a good example to other investors who are still hesitant about starting business in Belarus,” according to Konstantin Mikhel, the managing partner of Vlasova Mikhel & Partners law firm.
About Vlasova Mikhel & Partners
Since mid 1990’s Vlasova Mikhel & Partners has been holding a No 1 position on the legal services market in the Republic of Belarus. The company’s leadership has been repeatedly recognized by international professional press and ratings organizations. For the past five years Chambers Global has been announcing Vlasova Mikhel & Partners the leading national law firm in Business Law.