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Tata Chemicals exits Gabon fertilizer project

2:23 AM MDT | March 31, 2014 | Deepti Ramesh

Tata Chemicals (Mumbai) and agribusiness company Olam International (Singapore) say that Tata Chemicals will not proceed with its proposed 25.1% equity participation in the greenfield ammonia-urea manufacturing project near Port Gentil, Gabon. Olam currently holds an 80% stake in the project and the government of Gabon holds the remaining 20%. Tata Chemicals, in April 2011, announced that it will invest $290 million to acquire the 25.1% stake in the ammonia-urea complex in Gabon. Oland and Tata Chemicals signed a termination agreement on 28 March 2014. The...

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