Fauji Fertilizer Company Limited (FFC) has entered into a joint venture for setting up large-scale fertilizer plant in Tanzania. 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).
The project is one of the biggest foreign investment in Tanzania. The fertilizer complex is expected to commence commercial operations by 2020 and planned to produce 1.3 million tons of urea fertilizer per annum, for both local and international markets.
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 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.