jessebrown schreef op 26 augustus 2020 12:25:
Jammer, had liever gezien dat OCI genoemd zou worden.
Qatar’s IQ takes full control of fertilizer firm Qafco
Published date: 26 August 2020
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State-owned Industries Qatar (IQ) has agreed to buy a 25pc stake in fertilizer producer Qafco from the country's state-energy company QP for $1bn, making it the sole shareholder in the Mesaieed-based manufacturer.
Qafco, established in 1969, is the world's largest single-site urea manufacturer with six units and capacity of around 5.7mn t/yr.
As part of the transaction, Qafco and QP have agreed a gas contract covering the requirements of Qafco's fertilizer units and its subsidiary Qatar Melamine (QMC) until the end of 2035. IQ's board also approved Qafco's acquisition of QP's 40pc stake in QMC, effective from 1 July 2020.
QP agreed to buy Yara's 25pc stake in Qafco in March.
QP said in June that it would integrate fertilizer and sulphur marketer Muntajat into its operations.
Muntajat sells the Qafco urea for export, along with 800,000 t/yr of merchant ammonia. It also markets all the sulphur produced by QP, amounting to 2.1mn-2.2mn t/yr.
By Carl Roache