Monday, Mar 10, 2008
KARACHI (Dow Jones)--Engro Chemical Pakistan Ltd.(ENGRO.KA), the country's second largest urea maker by sales, Monday said it plans to establish phosphatic fertilizer plants in Algeria through a joint venture.
Engro Chemical will partner Algeria's Ferphos Group S.p.A on this joint venture, Engro said in a statement to the Karachi Stock Exchange.
However, Engro is awaiting an official approval from the Algerian government, the statement said.
"It is expected to be constructed in a period of around four years after the completion of a successful feasibility study by the joint venture", the statement said.
-By Karachi Bureau; Dow Jones Newswires; 91-11-41207691 abhrajit.gangopadhyay@dowjones.com
(END) Dow Jones Newswires
March 10, 2008 08:20 ET (12:20 GMT)
