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. Last Updated: 07/27/2016

Sibur Seeks Half of Fertilizer Market

Sibur-Mineral Fertilizers, a Gazprom unit, could seek 50 percent of the country's fertilizer market by 2010, which would cost as much as $11 billion, Vedomosti said Friday.

Sibur-Mineral Fertilizers, part of Gazprom's petrochemicals arm Sibur, plans to buy eight fertilizer plants for about $3.3 billion in 2007 to 2008, Vedomosti said, citing a copy of the company's development strategy.

The unit is also interested in purchasing 51 percent of Transammiac, which owns the only ammonia pipeline in the country, and 20 percent in Apatit, Vedomosti said.

From 2009, Sibur-Mineral Fertilizers may spend $4 billion to $8 billion to penetrate the country's potash and phosphorous fertilizer market through a union with another producer, Vedomosti said.

Sibur cannot comment on the Vedomosti report, because "we don't know the source of the information, and can't verify its authenticity," spokesman Rashid Nureyev said.