German and Danish based multinational corporations, Ferrostaal GmbH and Haldor Topsoe have formed a joint venture targeting to participate in an estimated 1bn US dollars (1.8trn/-) large scale ammonia complex investment In Tanzania.
In a statement, Ferrostaal said the two companies have been working together for a long period in the country and that their latest joint venture initiative to be known as Ferrostaal Topsoe Projects GmbH will combine project planning, development and financing.
“Haldor Topsoe and Ferrostaal have already been working successfully together for some time - most recently on two major ammonia-related projects in Tanzania and Cameroon.
In Tanzania the companies are involved in the development of a large-scale ammonia complex together with the state-owned Tanzania Petroleum Development Corporation,” the statement said.
It further noted that the joint venture will work on the largest investment project in the country with an investment volume of more than one billion US dollar targeting fertiliser production for agriculture development.
“Agriculture in Tanzania will in particular stand to benefit from the project since ammonia is the main component in fertiliser. The sector makes up approximately one third of Tanzania’s gross domestic product, with more than 75 per cent of the population working in the agricultural sector,” the statement noted.
The mega project which is due for completion between 2019/20 is expected to provide 5,000 direct and indirect jobs during the construction and operating period of the new fertiliser plant.
The joint venture will offer the realisation of major projects in the petrochemical, refining and environmental technology sectors from one single source.
Ferrostaal GmbH which is a leading global project developer for industrial plants and Haldor Topsoe A/S, the world leader in catalysis and related process technologies, will locate their joint venture projects management in Essen, Germany.
“The new company will position itself as a leading player in developing, financing and realising major industrial projects in the petrochemical, refining and environmental sectors.
Fast growing emerging economies around the world will be the primary market focus,” the statement concluded.
“Ferrostaal Topsoe Projects is a perfect match of competences. Combining the world-leading technology portfolio of Haldor Topsoe with our ability to drive project development and facilitate investments translates into a highly attractive value proposition for customers,” said Dr Klaus Lesker, Managing Director of Ferrostaal GmbH.
From Haldor Topsoe’s point of view the new joint venture also offers a high potential for growth and new business opportunities, according to CEO, Bjerne Clausen.
“Building partnerships to ‘fast track’ our way into new business areas or expand our current market-reach is a key part of our growth strategy.
In this context the new joint venture is a huge step forward due to the positive synergies it carries,” Mr Clausen said.
Source, Daily News, reported by Finnigan Wa Simbeye, from Dar es Salaam, Tanzania
In a statement, Ferrostaal said the two companies have been working together for a long period in the country and that their latest joint venture initiative to be known as Ferrostaal Topsoe Projects GmbH will combine project planning, development and financing.
“Haldor Topsoe and Ferrostaal have already been working successfully together for some time - most recently on two major ammonia-related projects in Tanzania and Cameroon.
In Tanzania the companies are involved in the development of a large-scale ammonia complex together with the state-owned Tanzania Petroleum Development Corporation,” the statement said.
It further noted that the joint venture will work on the largest investment project in the country with an investment volume of more than one billion US dollar targeting fertiliser production for agriculture development.
“Agriculture in Tanzania will in particular stand to benefit from the project since ammonia is the main component in fertiliser. The sector makes up approximately one third of Tanzania’s gross domestic product, with more than 75 per cent of the population working in the agricultural sector,” the statement noted.
The mega project which is due for completion between 2019/20 is expected to provide 5,000 direct and indirect jobs during the construction and operating period of the new fertiliser plant.
The joint venture will offer the realisation of major projects in the petrochemical, refining and environmental technology sectors from one single source.
Ferrostaal GmbH which is a leading global project developer for industrial plants and Haldor Topsoe A/S, the world leader in catalysis and related process technologies, will locate their joint venture projects management in Essen, Germany.
“The new company will position itself as a leading player in developing, financing and realising major industrial projects in the petrochemical, refining and environmental sectors.
Fast growing emerging economies around the world will be the primary market focus,” the statement concluded.
“Ferrostaal Topsoe Projects is a perfect match of competences. Combining the world-leading technology portfolio of Haldor Topsoe with our ability to drive project development and facilitate investments translates into a highly attractive value proposition for customers,” said Dr Klaus Lesker, Managing Director of Ferrostaal GmbH.
From Haldor Topsoe’s point of view the new joint venture also offers a high potential for growth and new business opportunities, according to CEO, Bjerne Clausen.
“Building partnerships to ‘fast track’ our way into new business areas or expand our current market-reach is a key part of our growth strategy.
In this context the new joint venture is a huge step forward due to the positive synergies it carries,” Mr Clausen said.
Source, Daily News, reported by Finnigan Wa Simbeye, from Dar es Salaam, Tanzania
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