Sonatrach and OCI Reach Commercial Agreement
Cairo -- (Marketwired) -- 05/28/13 -- *T
Algiers, Algeria / 27 May, 2013 3:30 PM
Sonatrach and OCI Reach Commercial Agreement on Sorfert Algerie
Sonatrach and OCI N.V. announced today they have reached an agreement
on the commercial and economic terms related to Sorfert Algerie
(Sorfert), a 2 million metric ton per year (mtpa) Greenfield nitrogen
fertilizer complex jointly owned by the parties.
Sonatrach and OCI have signed an amendment to the Shareholders'
Agreement agreeing on mutually beneficial arrangements, which will
allow for the earliest possible start of production and commercial
activities of the company.
Abdelhamid Zerguine, President Director General of Sonatrach,
commented: "We congratulate both companies on this important
achievement in the fertilizer industry, which reflects the will and
commitment of both parties to work together to develop their joint
investment in Algeria."
Nassef Sawiris, Chief Executive Officer of OCI N.V. commented: "Having
reached a milestone agreement that creates value for Sorfert's
shareholders, we look forward to continuing our successful long-term
partnership with Sonatrach and to working closely on future joint
For additional information contact:
Investor Relations For additional information on OCI N.V.:
Email: 6167 AC Geleen,
email@example.com The Netherlands
OCI N.V. stock symbols: OCI / OCI.NA /
OCI.AS / OCINY
Tel: +202 2461 1036/0727/
Fax: +202 2461 9409
This information is provided by RNS
The company news service from the London Stock Exchange
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