MOPCO Took Over Agrium Fertilizer Project

After months of delay, Egypt’s MISR Oil Processing Company (MOPCO) has agreed to acquire EAgrium joint-venture fertilizer project making EAgrium a subsidiary of MOPCO. Under the new deal, Agrium would own 26% of the combined project, including MOPCO’s recently completed 675,000 tonne/year urea plant as the acquisition is based on share swapping.

The Egypt Fertlizer project worth $1.2 billion was delayed on 21 April due to local resistance with Egyptian government was rumoured to take over the whole project.