Krupp Uhde of Germany on Saturday, July 14, won a contract to build a new complex for Qatar Fertilizer Company (Qafco), the official news agency QNA reported, in a project costing an estimated $1.1 billion.
It said Krupp Uhde, which was in contest with Italian and US firms, was to start work in October on the Qafco-4 complex.
The plant, scheduled to go on line in 2004, will produce 2,000 tons of ammonia and 3,200 tons of urea per day, making Qafco the world's biggest urea production site.
Gulf International Bank (GIB) said earlier this month that Qafco has signed a $400-million loan with a group of international banks to help fund the fourth production complex.
The estimated cost is $1.1 billion, said the Bahrain-based GIB, one of the loan's six lead arrangers.
Qafco has a current daily capacity of 4,000 tons of ammonia and 4,800 tons of urea, which is used mainly as an agricultural fertilizer
The company is a joint venture between government-owned Qatar Petroleum, with a 75 percent stake, and Norway's Norsk Hydro, which holds the remaining 25 percent. — (AFP, Doha)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)
