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IFC Provides Loan to Engro Fertilizers Pakistan to Expand Urea Capacity

1:11 AM MDT | April 5, 2011 | Deepti Ramesh

International Finance Corporation (IFC; Washington), a member of the World Bank group, says it has provided a $30-million loan to Engro Fertilizers Pakistan (Karachi), a wholly-owned subsidiary of Engro Corp. (Karachi), to help the company with an expansion plan that will more than double its production of urea. The investment will help Engro increase production of urea from 900,000 m.t./year to 2.2 million m.t./year, IFC says. The loan will also help Engro become a larger player in the regional fertilizer industry, and help Pakistan become self sufficient in...

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