23 April 2012 22:20 [Source: ICIS news]
CAMPINAS, Brazil (ICIS)--Brazil wants increase domestic production of fertilizers so it can reduce imports, the nation's president said on Monday.
The declaration of Brazil's president Dilma Rousseff comes after Vale signed a contract to rent a Petrobras site to produce potash in the city of Rosario do Catete in the state of Sergipe.
Vale's president, Murilo Ferreira, said the site will be Brazil's largest potash plant, reducing the country's dependence on imports of the product.
The deal between Vale and Petrobras is part of Vale's fertilizer expansion plan.
The agreement with Petrobras allows Vale to explore carnalite reserves for 30 years.
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