Construction Still Idle at Agrium Fertilizer Project in Egypt

Agrium says that construction has not resumed at the Damietta, Egypt site of the company’s EAgrium (Cairo) joint venture fertilizer project. Work was halted on April 21 after local residents raised concerns over the potential health and environmental impact of the facility. International and Egyptian banks providing financing for the project have suspended future draws from a credit facility for construction and equipment costs, Agrium says. The company says it expects a review by the Egyptian government to conclude in the jv’s favor. However...

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