Arab consortium plans to build Tanzania ferts plant

20 February 2008 12:46  [Source: ICIS news]

DUBAI (ICIS news)--An Arab consortium lead by Dubai-based Abraaj Capital and Misr Bank and Polyserve Fertilizer Co, both of Egypt, is planning to build a $600m fertilizer plant in Tanzania, Polyserve Fertilizer Co CEO Sharif Jabli said on Wednesday.

Jabli said that Misr Bank has finished the feasibility studies of the ammonia and urea project without disclosing the plant's proposed location or giving further details about the project.

He added that negotiations are being held with the Tanzanian government to set the stake of each partner and appoint the executives on the project.

The venture would target ammonia and urea markets in east African states as well as South Africa.

Misr Bank will arrange the project finance once a full agreement has been struck with the government in Dar Es Salaam, Jabali added.

ICIS Copyright © Reed Business Information 2009

Author: Abdelghani Henni
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