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Huchems signs deal for $800-million ammonia project in Tanzania

3:18 AM MDT | July 3, 2013 | Deepti Ramesh

A Malaysia-based subsidiary of Huchems Fine Chemical (Seoul) has signed a memorandum of understanding with Tanzania-based Infotech Investments Group (Dar es Salaam), and Gro Energy, to invest a total of $800 million to build a new ammonia plant in Tanzania, say press reports. The plant will utilize the country's abundant natural gas resources, and a final agreement for the project is expected to be signed by the end of 2013. “With Huchems’ experience in the petrochemicals industry and natural resources from Tanzania, this project can be successfully...

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