May 27 2013
Sonatrach and OCI N.V. announced today they have reached an agreement on the commercial and economic terms related to Sorfert Algérie (Sorfert), a 2 million metric ton per year (mtpa) Greenfield nitrogen fertilizer complex jointly owned by the parties.
May 17 2013
Construction Group Update • Consolidated backlog as at 31 March 2013 stood at US$ 6.8 billion reflecting a decrease of 3% over the backlog as at 31 December 2012 and an increase of 5% over the same period last year • New awards totaled US$ 700 million during the quarter as compared to US$ 841 million during the same period last year • Infrastructure and industrial work constitute 72% of the Construction Group backlog as at 31 March 2013 Fertilizer Group Update • During the first quarter, the Fertilizer Group sold 1.57 million metric tons of nitrogen-based fertilizer products as compared to 1.33 million metric tons during the same period last year. • The Group also sold 183 thousand tons of methanol and 38 thousand tons of melamine during the quarter as compared to 23 thousand tons of methanol and 38 thousand tons of melamine during the first quarter of 2012 • The Group’s plants in Egypt, Egyptian Fertilizer Company (EFC) and Egypt Basic Industries Corporation (EBIC), faced natural gas supply curtailments during the quarter which reduced their utilization rates to 47.3% and 29.7% respectively • Since the tax settlement agreement with the Egyptian Tax Authority (ETA), utilization rates at EFC and EBIC have increased to a daily range of 60-70% • Iowa Fertilizer Company (Iowa Fertilizer) issued US$ 1.2 billion in bonds in the US tax-exempt market
May 15 2013
OCI N.V. announced today that its American Depository Receipts (ADR) began trading on the OTCQX marketplace (OTCQX) today after upgrading to OTCQX International Premier. BNY Mellon will serve as OCI N.V.’s Principal American Liaison (PAL) on OTCQX.
May 14 2013
OCI N.V.’s subsidiary, Orascom Construction Industries (OCI), announced today that it has been advised by OCI N.V. of its intention to formally proceed with filing all necessary documentation with the relevant Egyptian authorities to complete the Company’s tender offer for the ordinary shares of OCI listed on the Egyptian Stock Exchange (EGX).
May 1 2013
Iowa Fertilizer Company LLC (Iowa Fertilizer), a wholly owned subsidiary of OCI N.V., announced today that it has issued approximately US$ 1.2 billion of bonds to institutional and retail investors in the US tax-exempt market through the Iowa Finance Authority.