Israel Chemicals signs second Indian potash deal

Israel Chemicals signs second Indian potash deal

12:49 PM, 11th August 2011
Israel Chemicals signs second Indian potash deal

 

TEL AVIV, ISRAEL: ICL (Israel Chemicals Ltd) signed its second potash contract in India this month. The new contract is for 415,000 tonne, with an option for an additional 25,000 tonne, amounting to $203.4 million and $215.6 million if the option is exercised. It follows on the $490 million Indian contract for one million ton with a 100,000-ton option signed last week.

The average price in both contracts is $490 per ton, $120 more per ton than in Israel Chemicals’ previous Indian contracts. The new contract will be delivered through March 2012. The new contract terms to make ICL a major player in the Indian potash market.

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