Kemira secures $31m EIB loan
04 October 1999 00:00 [Source: ICB]
Kemira Arab Potash, the Jordanian joint venture between Kemira Agro and Arab Potash, has secured a loan of E30m ($31m) from the European Investment Bank (EIB) for its planned production of fertiliser and animal feed.
The new plant, to be located at Aqaba, Jordan, will produce 150 000 tonne/year of potassium nitrate and 75 000 tonne/year of dicalcium phosphate. The facility is due to start up at the end of 2001.
The EIB said that its funding will help increase value by providing long-term loan finance which is not available locally and by complementing the other medium-term European finance from the development agencies of Denmark and Finland.
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