Melbourne-Orica Ltd. reported a 143 percent increase in net profits after tax (NPAT) and non-controlling interest of A$1.3 billion on sales of $6.54 billion for the year ending Sept. 30, 2010, compared to the prior year $541 million and $7.41 billion. Orica expects NPAT to increase in fiscal 2011. Orica says its 300,000 mt/y ammonium nitrate plant in Bontang, Indonesia, is on track for commissioning in late 2011. The company said its board has approved $75 million for the completion of engineering plans and for ordering long-lead items for the 320,000 mt/y expansion of its ammonium nitrate facility at Kooragang Island, Australia. The expansion would bring capacity up to 750,000 mt/y. Total cost for the upgrade is expected to be $600-$750 million; however, Orica says that based on demand growth of about 8 percent per year, the likely timing of the project would be 2014-15, with flexibility for a further delay if market conditions soften. Orica said all statutory approvals have been received for the AN expansion, as well as for an anhydrous ammonia upgrade of 65,000 mt/y at the Kooragang location. The target for the ammonia completion is late 2011. All major equipment has been ordered, and site work is progressing according to plan.
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