August 14, 2012
Turkish fertiliser firm to invest US$204 million in facility
An additional investment worth EUR165 million (US$204 million) is to be put in by Ba？？fa？？, one of the leading fertiliser makers in Turkey in its Band？±rma plant.
Ba？？fa？？ Chairman Kemal Gen？§er, spoke over the weekend at the Ba？？fa？？ plant and said that in September or October the company would hold a ground breaking ceremony for Turkey's first stabilised granule ammonium nitrate and calcium ammonium nitrate (CAN) facility. He stressed that the facility would be capable of producing 660,000 tonnes of granule calcium ammonium nitrate. This new facility will be able to produce 1,200 tonnes of nitric acid, 1,550 tonnes of granule ammonium nitrate and 2,000 tonnes of calcium ammonium nitrate per day.
"The total cost of the facility will be financed by roughly EUR140.7 million (US$174 million) from foreign investors and EUR20-25 million (US$25-31 million) by Ba？？fa？？, leading to a grand total of EUR165 million (US$204 million). Some 85% of the EUR140.7 million (US$174 million) will be provided by loans from the German government and will have a repayment window of 13 years," said Gen？§er. "There would be no loan payments in the first three years and the loan will then be repaid in 10 years with 20 instalments."