FERTIL signs US$ 240 million with Pakistani and Swiss companies

Abu Dhabi, July 19th,2007(WAM)--The Ruwais Fertilizer Industries (Fertil) today signed a contract for the Fertil Urea Plant Debottlenecking Project with Descon Engineering of Pakistan and Urea Casale of Switzerland.

"We are talking about a major project, which would cost in total around 240 Million Dollars aimed further increasing he Urea Plant capacity by 50%," said Mr. Mohamed R. Al Rashid, Fertil GM Descon Engineering will cover the Engineering, Procurement, Construction and Commissioning of the Urea Plant in Ruwais, while Urea Casale will be providing the technology and license for the Urea Plant modifications "FERTIL Urea product is very friendly, and it is used for the benefit of nation, for the benefit of agriculture and for the benefit of environment", said Mohamed R. Al Rashid, Fertil GM.

The project is also part of Fertil's strategy aimed at converting surplus liquid Ammonia into Urea which is more convenient to store, handle and export. Also the Carbon dioxide required for this process shall be recovered from the presently vented Reformer flue gases, resulting in annual reduction in Green House Gases emissions of approximately 100,000 tons of CO2 and that corresponds to 20% reduction in FERTIL CO2 emission.

Signing the contract were Mohamed Rashid Al Rashid, Fertile GM, Dr.FEDERICO ZARDI from Urea Technology Licensor UREA CASALE, and Sheikh Azhar Ali, Managing Director & CEO DESCON ENGINEERING.

In remarks after the singing Al Rashid said: "FERTIL Urea product is very friendly, and it is used for the benefit of nation, for the benefit of agriculture and for the benefit of environment".

FERTIL Company , he added, is proud to be the owner and the operator of the Ammonia and Urea complex with capacities of 1000 MT Per Day Topsoe designed Ammonia plant and 1500 MT Per Day Stamicarbon designed Urea plant since commissioning in 1983. During the last 24 years, some small modifications were executed, which increased the Urea plant capacity by 20%, he said.

He added that FERTIL's Vision is to manufacture environment friendly industrial fertilizers in accordance with the international HSE Standards & Quality Management Systems.