FFC to set up fertiliser plant in Tanzania

LAHORE: Fauji Fertilizer Company Ltd (FFC) has entered into a joint venture for setting up large-scale fertiliser plant in Tanzania, a statement said on Thursday.
FFC is partnering with renowned technology provider Haldor Topsoe A/S (HT) from Denmark, and project developer Ferrostaal Industrial Projects GmbH (FIP) from Germany as a consortium and joined by the state-owned Tanzania Petroleum Development Corporation (TPDC), it said.
The plant will be located in the South of Dar es Salam in the Lindi /Mt Wara area, where port facilities and connections to natural gas grid would be available.
The project is one of the biggest foreign investment in Tanzania, it said, adding that the fertiliser complex is expected to be on-stream by 2020 and will produce 1.3 million tons of urea fertiliser per annum, for both local and international markets.
The agricultural sector in Tanzania would benefit the most from this investment and FFC’s agri-services experience.
Fauji Fertilizer Company 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 fertiliser plant and training of domestic manpower in Tanzania, it said.
TPDC considers this project to be of strategic importance to the 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.
The statement also said that it is estimated that around 5,000 direct and indirect jobs will be created during the construction and operation phase to the benefit of both Pakistanis and Tanzanian people.
Lt Gen Shafqaat Ahmed (Retd), chief executive and managing director of FFC, 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 and to ensure sustained stream of payout, which is the highest (97 percent) in Pakistan.