Canada's Methanex, Agrium shut down Egyptian operations

14 November 2011 17:02  [Source: ICIS news]

HOUSTON (ICIS)--Two Canadian companies confirmed on Monday that operations at Egyptian fertilizer and methanol plants in which they hold interest were shut down on 13 November following the deaths of two individuals protesting a fertilizer plant expansion.

Alberta-based fertilizer seller Agrium confirmed that MOPCO management has suspended operations at a nitrogen fertilizer facility in Damietta, Egypt, because of local demonstrations.

MOPCO is majority owned by the Egyptian government. Agrium has a 26% equity position in the facility, which has been in operation since 2008.

MOPCO has also temporarily suspended construction on the expansion project, which is adjacent to the existing facility.

Additionally, British Columbia-based Methanex said it has shut down its methanol plant in Damietta, Egypt, because of the recent unrest.

“Our immediate priority remains the safety and security of our employees and contractors,” said chief executive Bruce Aitken.

“We are confident that we are positioned to restart the plant in a timely manner once order has been restored to the area.”

The protests began last week over emissions and possible harm to local fisheries that may be caused by the MOPCO expansions.

(Additional reporting by Bobbie Clark)

By: Frank Zaworski
+1 713 525 2653

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