NSGB Asks 8 Banks To Lend Delta Company For Fertilizers US$ 420 Mln

National Société Générale Bank, financial adviser of Delta Company for Fertilizers and Chemical Industries, asks eight banks to arrange a syndicated loan worth US$ 420 million for the company.

Sources said the loan will be used to establish an ammonia unit with production capacity of 1,200 tons daily and renew the urea unit. Sources expected the banking consortium to be composed by the beginning of next year to provide the required finance for the company.

The company has a number of factories such as Talkha 1 (producing ammonium Nitrate 33.5% N) which was moved to its current place in Talkha after 1967 war and was operated in 1975 as well as Talkha 2 (producing nitrogen content of 46.5% N.) which was operated in 1980 and has production capacity of 1,725 tons daily.

The company has a co-generation unit which was operated in May 2000 with power capacity of 17.7 MW per hour and thermal efficiency of 85.4%. The company also owns a plastic bagging plant which manufactures heavy duty sacks of raw polyethylene with production capacity of 33 million bags annually.