Egyptian Parliament Vote Jeopardizes Agrium's Fertilizer JV

A decision made today by the Egyptian Parliament brings into question Agrium's position in a $1.4-billion fertilizer complex that the company's majority-owned jv EAgrium (Cairo) is building at Damietta, Egypt. The Egyptian Peoples Assembly has decided to recommend the relocation of EAgrium's turnkey fertilizer complex, a recommendation that the Egyptian Prime Minister has indicated he will support. Agrium says that it is being asked to relocate the fertilizer complex "for no apparent reason." The Egyptian government itself has ratified findings...

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