North Sydney, Australia-Dyno Nobel has confirmed that it has been informed by CSBP (Wesfarmers) that it would not be entering into a joint venture arrangement with Dyno Nobel on a prospective QNB ammonium nitrate plant at Moranbah in Queensland. “The economics of the QNB project remain attractive,” said Dyno Nobel CEO Peter Richards. “We were obligated to offer Wesfarmers the option to participate in QNB under a pre-existing arrangement but as previously stated, subject to acceptable project economics, it was our intention to proceed with the project with or without CSBP’s participation.” Richards said Dyno Nobel is in the process of finalizing its commitments with three customers, as well as other key elements of the project, which it hopes to announce soon. In August, Dyno Nobel signed a Heads of Agreement with United Group Ltd. for the engineering, construction, and pre-commissioning for the prospective plant. In addition, Dyno Nobel has a Letter of Intent with engineering firm SNC-Lavalin to play a key role in ensuring the project is completed on time and on budget. The goal is for the new plant to be up and running in the fourth quarter of 2008. Dyno Nobel continues as a 50-50 partner with Wesfarmers/CSBP in the Queensland Nitrate Project in Moura, Queensland.
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