Norsk Hydro ASA and Sociedad Quimica y Minera de Chile SA to establish joint venture in Egypt

Nordic Business Report, Feb 17, 2003

NORDIC BUSINESS REPORT-17 February 2003-Norsk Hydro ASA and Sociedad Quimica y Minera de Chile SA to establish joint venture in Egypt(C)1994-2003 M2 COMMUNICATIONS LTD http://www.m2.com

The Norwegian energy and materials group Norsk Hydro ASA said on Friday (14 February) that its business area Hydro Agri had signed a joint venture agreement with the fertilisers producer and distributor Sociedad Quimica y Minera de Chile SA (SQM).

Under the agreement the companies would, together with two local entrepreneurs, establish a jointly-owned Egyptian company to produce and market liquid fertilisers.

Hydro Agri and SQM would each own 47.5% of the new company, Misr Speciality Fertilizer Ltd, with the local partners holding the remaining 5%.

The construction of the plant, to be located in Noberia in northern Egypt, is expected to be completed in 2004, Norsk Hydro said.

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