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Tata Chemicals Drops Out Of Gabon Fertilizer Project

Tata Chemicals Drops Out Of Gabon Fertilizer Project

Unlike initially planned, Tata Chemicals will not to proceed with its proposed 25.1 percent equity participation in a Greenfield ammonia-urea fertilizer manufacturing project (GFC) in the Republic of Gabon. The reason given is a change in investment focus.

“On 11 April 2011, the Company had announced its participation in the project in which Olam International (Olam) currently holds 80% stake with the Government of Republic of Gabon (ROG) holding the remaining 20 percent,” reports Business Standard.

TCL has shifted its investment focus away from overseas fertilizer manufacturing.

However, TCL will continue its relationship with GFC  by providing technical support that may be requested by Olam or GFC’s other equity partners.