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Iowa Fertilizer raises funds for $1.8-billion nitrogen fertilizer project

10:19 AM MDT | May 2, 2013 | Natasha Alperowicz

Iowa Fertilizer Co., a wholly owned subsidiary of Orascom-owned OCI NV, has issued $1.2 billion of bonds to institutional and retail investors in the US tax-exempt market through the Iowa Finance Authority, the company said on Wednesday. The bond proceeds will be used to finance a previously announced $1.8-billion greenfield nitrogen fertilizer complex at Wever, IA, the largest investment in Iowa’s history.   The new complex will produce up to 2 million m.t./year of ammonia, urea, urea ammonium nitrate and diesel exhaust fluid (DEF). It is expected to...

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