U.S. fertilizer project halted
Egypt Kuwait Holding (EKH) Chairman Moataz Al Alfi in an interview with Bloomberg said that the company has halted plans to construct a fertilizer plant in the U.S. due to high construction costs. He said the company may invest in the Middle East instead.
EKH is a prime investor is the Magnolia Nitrogen Idaho (Magnida) project (GM Sept. 8, 2014), which was seeking to build a major project in American Falls, Idaho. The project had already jumped many hurdles including a major battle with potential neighbor ConAgra Foods.