FFC up for a large scale fertiliser complex in Tanzania
ISLAMABAD – Fauji Fertiliser Company Limited (FFC), the leader in Pakistani fertilizer sector has entered into joint venture for setting up large scale fertilizer plant in Tanzania.
FFC is partnering with renowned technology provider Haldor Topsoe (HT) from Denmark and project developer Ferrostaal Industrial Projects (FIP) from Germany as a consortium and joined by the state-owned Tanzania Petroleum Development Corporation (TPDC) according to statement issued here on Thursday.
The plant will be located in the southern area of Tanzania where port facilities and connections to natural gas grid would be available. This project is one of the biggest foreign investments in Tanzania. The fertilizer complex is expected to be on-stream by 2020 and will be producing 1.3 million tons of urea fertilizer per year, for both local and international market. The agricultural sector in Tanzania would be benefiting the most from this investment and FFC’s agri-services experience.
Fauji Fertilizer Company (FFC) with over three decades of experience in operating large scale ammonia and urea plants is well poised to run safe and reliable operations of this fertilizer plant and training of domestic manpower in Tanzania.
Tanzania Petroleum considers this project to be of strategic importance to their country in view of enormous economic and social benefits. This project will significantly help boost economy in Tanzania by creating employment opportunities directly and also in spin-off industries.
FFC Managing Director Shafqaat Ahmed while briefing the board of directors expressed his optimism on this key project which marks the beginning of FFC’s ‘Global Aspirations’.
The project is seen as a positive development towards the national economy, as a valuable source of earning foreign exchange and goodwill in African region. The investment is reflection of FFC’s commitment towards value creation for its shareholders to ensure sustained stream of payout, which is the highest (97 percent) in Pakistan.