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Mitsubishi Corp. and Zuari Acquire Stake in Phosphate Rock Company in Peru

12:28 AM MST | January 9, 2012 | Deepti Ramesh

Mitsubishi Corp. and fertilizer manufacturer Zuari Industries (Goa, India) say they have acquired a stake in Fasfatos del Pacifico (Fospac) from cement manufacturer, Cementos Pacasmayo (Lima, Peru). Fospac is a subsidiary of Cementos Pacasmayo and is involved in the exploration and production of phosphate rock at Bayovar, Piura Province, Peru. Mitsubishi Corp. and Zuari have established a 70-30 joint venture called MCA Phosphates (Singapore), to acquire a 30% stake in Fospac. This will enable Mitsubishi Corp. to hold 21% stake in Fospac through MCA Phosphates...

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