11 April 2011 17:21 [Source: ICIS news]
LONDON (ICIS)--India’s Tata Chemicals has invested $290m (€200m) to acquire a 25.1% stake in stream one of an ammonia-urea fertilizer-making complex in ?xml:namespace>
The balance of shares is held by Singapore-headquartered Olam International (62.9%) and the Gabonese state (12%).
Two streams, each of 1.3m tonnes/year of urea, with matching ammonia capacity, are planned for the greenfield site, near Gabon’s main port, Tata said.
Construction of stream one has already started and is expected to come online in 2014. The timeframe for stream two will be decided in the next two years, with Tata expected to hold a significantly higher stake in stream two, it said.
Tata added that the total operational capacity would be 2.6m tonnes/year of urea, with 25% of the output reserved for markets in India.
($1 = €0.70)
For more on urea and ammonia, visit ICIS pricing fertilizers
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