New Delhi-IFC, the private sector arm of the World Bank Group, has signed an agreement to invest in the Indo-Egyptian Fertilizer Co., a joint venture between Indian Farmers Fertilizer Cooperative Ltd. (IFFCO) and El Nasr Mining Co. of Egypt. The $80 million loan for IFC’s own account and a loan of up to $170 million from participating banks will be used to set up a phosphoric acid plant in Edfu, in upper Egypt. The project will create 350 permanent jobs and 1,000 temporary construction jobs.
Transparency Across the Fertilizer Value-Chain