09 February 2011 19:04 [Source: ICIS news]
TORONTO (ICIS)--Agrium is “cautiously optimistic” about the political and economic outlook in ?xml:namespace>
Meanwhile, Agrium’s Egyptian affiliate, MISR Fertilizer Production Company (MOPCO), was proceeding with work on tripling capacity, said CEO Mike Wilson. Agrium holds a 26% stake in MOPCO’s 675,000 tonne/year urea facility at
“I can’t see a new government coming in and saying we are going to destroy the economy,” he said.
Ron Wilkinson, Agrium senior vice president and president of the company’s wholesale business, said work on MOPCO’s expansion was about 50% complete.
Urea production from the first train of the expansion could begin in 12 months, “all going well”, with both trains expected to be completed by June 2012, Wilkinson said.
MOPCO had a natural gas price contract in place and Agrium expected that contract would be honoured, he added.
In related news, Egyptian fertilizer firm Orascom Construction said this week its plants had continued to produce at normal rates during the unrest and several shipments had been completed. Orascom last year bought DSM's fertilizer and melamine business groups.
Commissioning activities at Methanex's new 1.3m tonne/year joint venture EMethanex methanol plant at
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