Turkish Fertilizer Group to Spend $100 Million in Africa, Referans Reports

Gubre Fabrikalari TAS, a Turkish fertilizer maker known as Gubretas, plans to spend $100 million on raw materials in North Africa, Referans reported, citing Chief Executive Officer Mehmet Koca.

Gubretas, which bought Iran’s Razi Petrochemical Co. for $650 million in 2008, will concentrate on the region between Morocco and Egypt, which is rich in raw materials, according to Referans.

To contact the reporter on this story: Seda Sezer in Istanbul at ssezer2@bloomberg.net.

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