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according to TASS news agency. On September 22, Lukashenko said that the Belarusian authorities have urged Russia to restructure a $10bn loan provided for the construction of a nuclear power plant. Officials are also pursuing the possibility of reducing the interest rate on the loan, according to Lukashenko. "The launch of the first unit [of the nuclear plant] has already been postponed by as much as one year, and I’m afraid that [...] Russia may ask for a further postponement, which couldn’t be accepted at all," Lukashenko said. "Since they have failed to meet the deadline - we certainly don’t want to go to court, as provided for by the agreement - we agreed that the repayment period should be extended." Belarus started constructing the nuclear power plant in 2013 in the Grodno region, some 10 kilometres from the Lithuanian border. The general contract provides for construction by Russia’s company Atomstroiexport. The first unit of the plant is scheduled to be put into operation in December 2019 and the second in July 2020.
The Belarusian authorities have urged Russia to restructure a $10bn loan
provided earlier for the construction of the Belarusian nuclear power plant and the possibility of reducing the interest rate on the loan, the nation's president told an emergency government meeting on September 22. "The launch of the first unit has already been postponed by as much as one year, and I’m afraid that [...] Russia may ask for a further postponement, which couldn’t be accepted at all," Lukashenko's media office quoted him as saying. "Since they have failed to meet the deadline - we certainly don’t want to go to court, as provided for by the agreement - we agreed that the repayment period should be extended." Belarus has started to construct the nuclear power plant in 2013 in the Grodno region, some 10 kilometres from the Lithuanian border. The general contract provides for the construction by Russia’s company Atomstroiexport. The first unit of the plant is scheduled to be put into operation in December 2019 and the second one in July 2020. Lukashenko also that the issue was discussed with his Russian counterpart Vladimir Putin in Russia’s Sochi on September 21. "Speaking frankly, those were difficult talks rather than complex ones, but they were fruitful," the president underlined. According to Lukashenko, Minsk also seeks to refinance a $1bn debt owed to Russia. "There was no negative reaction to the idea [from the Russian president]," he added. The foreign exchange reserves of Belarus increased by $216mn, or 3.1% month-on-month, to $7.246bn in March following a 2.9% m/m increase in July, according to the National Bank of Belarus (NBB). The external state debt of Belarus totalled $16.5bn as of August 1, down by $179mn or 1.1% from early January.
9.1.13 Other sector news
Belarusian Potash Company to sell potash to China at $290 per tonne
after the Belarusian Potash Company reached a price agreement with China, BelTA reports. “During the final round of talks with a consortium of Chinese customers (Sinochem, CNAMPGC, CNOOC) in Beijing on 17 September 2018, the delegation of the Belarusian Potash Company led by Director General Yelena Kudryavets has reached a price agreement with its Chinese partners. In line with this agreement, the contractual price for potash to be sold to China till June 2019 inclusive will make up $290 per tonne on CFR terms. This price is $60 higher than that a year before,” the Belarusian Potash Company said.
The arrangement reached by the parties is in sync with the current upward price trends on the global potash market. “The price agreement with China is
32 BELARUS Country Report October 2018 www.intellinews.com