Friday, 8 May 2009

Orascom Construction Industries fertizer push

The fertilizer industry in Egypt is supported by the cheap natural gas and phosphate rock.

Orascom Construction Industries, one of the bigger players in the fertilizer market, has signed a deal with the Egyptian Financial and Industrial Corporation to make up to 78,000 tons of ammonia annually. The company currently operates plants capable of producing a total of 2mn tons of nitrogen-based fertilizers annually. The group also has an investment in a facility in Nigeria.

The Egyptian government has approved a strategy allowing ten new phosphate fertilizer plants in the country, worth some USD 1.8bn.

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