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Parliament Vote Threatens Agrium Egypt Venture

3:45 PM MDT | June 30, 2008 | Chemical Week Editorial Staff

The Egyptian Peoples Assembly, the country’s parliament, has recommended the relocation of EAgrium’s (Cairo) $1.4-billion fertilizer project at Damietta, Egypt. The Egyptian prime minister says he will support the recommendation. Agrium owns 60% of EAgrium, and state-owned Egyptian firms jointly own an additional 24%. Agrium says the recommendation is “for no apparent reason” and that the Egyptian government has confirmed that the planned complex does not threaten health, safety, or the environment. The project has satisfied all...

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