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INDO EGYPTION FERTILIZER COMPANY SAE. a joint venture of Indian Farmers Fertiliser Cooperative Ltd., India and El Nasr Mining Company , Egypt May 2006. About IFFCO.

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indo egyption fertilizer company sae

INDO EGYPTION FERTILIZER COMPANY SAE

a joint venture of

Indian Farmers Fertiliser Cooperative Ltd., India

and

El Nasr Mining Company , Egypt

May 2006

about iffco
About IFFCO
  • Indian Farmers Fertiliser Cooperative Limited (IFFCO) incorporated as a multistate cooperative society in India is the largest fertiliser producer in India.
  • Owned by more than 38000 cooperative socities representing about 55 million farmers.
  • Annual Production of 6.4 million tones fertilisers in the year 2005-06.
  • Annual Sales of 8.2 million tones in the year 2005-06
  • 20% market share of nitrogenous and 25% market share of phosphatic fertilisers in India.
  • Annual turnover for the year ending March 2006 is over

US$ 2.2 billion and profit of US$ 107 million

  • Networth as on 31st March 2006 US$ 790 million
about iffco1
About IFFCO

Major Joint Ventures

  • Industries Chemique du Senegal (ICS), Senegal
  • Indian Potash Limited, India
  • IFFCO-Tokio General Insurance Company Ltd , India
  • Oman-India Fertiliser Company, Oman
  • National Commodity and Derivative Exchange Limited, India
  • National Collateral Management Services Ltd, India
  • Godavari Fertilisers and Chemicals Ltd., India
about enmc
About ENMC
  • El Nasr Mining Company (ENMC) is the largest mining company in Egypt under Metallurgical Industries Holding Company.
  • ENMC is the main miner, supplier and exporter of rock phosphate in Egypt.
  • Owns Rock phosphates mines in eastern and western Sabaiya deserts besides other minerals all over Egypt.
  • Owns Hamerawein port at Red Sea.
  • Exports about 1.5 million tones of rock phosphate yearly in addition to supplies in domestic market.
project highlights
Project Highlights
  • Location : Eastern desert at Sabaiya near Edfu, Aswan, Egypt adjacent to Rock Phosphate mines/ works of ENMC
  • Main Product : Phosphoric Acid 1500 tones per day (P2O5)
  • Intermediate Product : Sulphuric Acid 4500 tones per day
project highlights1
Project Highlights

KEY REQUIREMENTS

  • Rock Phosphate : About 2 million tones per year
  • Sulphur : 0.5 million tones per year
  • Production of Phosphoric Acid : 1.0 million tones (Bulk) per year
  • Water : 15000 cubic meters per day
  • Power : Captive Generation of 25 MW
project highlights2
Project Highlights
  • Capital Investment : 325 million US$
  • Debt equity ration 70 :30
  • Shareholding Pattern : IFFCO/Affiliates 76%

ENMC 24%

project highlights3
Project Highlights
  • Port facility required for import of Sulphur and Export of Phosphoric Acid
  • Railway Net work required to be improved for transportation of Sulphur and phosphoric Acid from/ to port
strategic partnership
Strategic Partnership
  • ENMC shall supply about 2 million tones of rock phosphate to the project from its mines at Sebaiya on long term basis
  • IFFCO will off-take the entire phosphoric acid production for exports.
pre project mile stones
Pre-Project Mile Stones
  • Conceptulisation for investment : December 2004
  • First Visit to Egypt : December 2004
  • Identification of the JV Partner : January 2005
  • MOU with El Nasr Mining Co. : April,2005
  • Approval for Investment in : May,2005

Project under Private Free Zone by General Authority for Investment &

Free Zones (GAFI)

  • In Principle allocation of Land : May 2005
pre project mile stones1
Pre-Project Mile Stones
  • Signing of Share Holders Agreement : October 2005
  • Incorporation of JV Company :November 2005
  • First Board Meeting &

Share Holders Meeting :November 2005

  • EIA by CAPSCU, Cairo University :November 2005
  • Environmental Clearance : January 2006
  • IFC appointed as finance facilitator

and consultant : February 2006

  • IFC team visited the site : March 2006
  • Testing of Rock Phosphates : March 2006
  • Established Head Office of the

Company in Cairo : March 2006

pre project mile stones2
Pre-Project Mile Stones
  • Appointed Ardaman Associates for

Basic design of Gypsum disposal site : March 2006

  • Geo Technical Study by by Dr. Fathi

M.Abdrabbo, Alexandria University : April 2006

  • Technical Study Report by PDIL : April 2006
  • Logistics Study by CAPSCU,

Cairo University : May 2006

schedule pre project activities
Schedule Pre-Project Activities
  • Social Impact Assessment as per

IFC guide lines by Centre for Environmental Researchand Studies (CERS)

Cairo University : June 2006

  • Finalisation of Plant Layout : June 2006
  • EIA for Crushing Unit of ENMC by

CERS, Cairo University : July 2006

  • Finalisation of Logistics Plan : June 2006
schedule pre project activities1
Schedule Pre-Project Activities
  • Finalisation of consultant for EPC

Contract : October 2006

  • Signing of financing agreements :September 06
  • Financial Closure :September 06
  • Zero date of the Project : 01/10/1006
  • Completion of the Project : 31/09/2009
benefits of the project to egypt
Benefits of the Project to Egypt
  • Foreign direct investment of about US$ 325 million
  • Net foreign exchange inflow of over US$ 2 billion over 20 years of plant operation.
  • Substantial value addition to Egyptian rock phosphate reserves.
  • Placing Egypt on the international Phosphoric acid Map.
  • Boost to local economy.
  • Boost to development of ancilliary industries to support the plant.
  • Direct employment of local population
  • Substantial indirect employment for plant construction , transportation and support functions.
areas of concern
Areas of Concern
  • Railways/ roadways upgradation to facilitate transportation of phosphoric acid to the port and Sulphur from the port to the plant .
  • Port upgradation for additional solid and liquid handling requirements.
suggestions
Suggestions
  • Upgradation of Railways on Fast Track
  • Upgradation of Ports on Fast Track
  • Land Acquisiton – on Fast Track
  • Creation of a Pool of Consultants in GAFI in the areas of Legal, Taxation, Finance, Human Resource etc.
  • Defining a Nodal Officer in important Ministries for coordination with GAFI / Investors.
  • Creation of Business Centre type facilities in GAFI for new Investors.
  • Pursuance of Strategic Investors abroad.
  • Simplification of procedures for establishment of Offices, Telephone Connections, Work Permits, Residence Visas etc.