Baltic States – CIS, Belarus, Cargo, Good for Business, Lithuania, Transport

Udovickij told BNS BKT plans to complete the terminal's expansion program by the end of this year.

Belaruskali's executives said earlier the company plans to increase its fertilizer production capacity to 15.5 million tons a year by 2025.

Udovickij says another Belarusian company, Slavkali, will be producing 1.5 million tons of fertilizers by that time and its products will go via the port of Klaipeda, exported by Belorusskaya Kaliynaya Kompaniya (BKK), also distributing Belaruskali's products.

"Both companies' logic will be the same and their products will be handled by BKT," Udovickij said. "The two companies will produce around 17 million tons but we can assume that around 1 million tons will enter the Belarusian market and the market of neighboring states, therefore, we can expect around 16 million tons in Klaipeda, via the BKT terminal, over the next five years," the BKT shareholder said.

In his words, BKT plans to invest around 5.5 million euros into expansion this year, and the company says it has already invested over 100 million euros.

BKT handled 10 million tons last year, with Belaruskali's fertilizers accounting for 98 percent of the total.

BKT posted 90.5 million euros in revenue last year, down 7.9 percent form 2018. Its net profit shrank 8.8 percent to 18.7 million euros.

At the end of last year, Udovickij owned 70 percent of BKT, and Belaruskali had a stake of 30 percent.