NNPC eyes 20% stake in fertilisers plant
Nigeria 
ABUJA, July 24, 2018 – The Nigerian National Petroleum Corporation plans to take 20% equity in the Nagarjuna Fertilizer Project, the NOC said in a statement Monday.
NNPC group managing director Maikanti Baru urged members of the project’s joint management committee to reach an early final investment decision (FID).
“It is my expectation that the negotiations with the financiers and other prospective investors will be concluded in order to meet the FID target of March 2019. With the composition of the joint management committee, I believe the target FID date will be achieved. The key message to the joint management committee therefore is to ensure that we conclude the pre-FID activities in good time to achieve the FID target,” Baru said.
The facility, for which NNPC will provide gas feedstock, is expected to product 2.8 million tonnes of urea and 220,000 tonnes of ammonia per year.
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