OCI Fertilizer to Acquire Minorities in Pandora

CAIRO, EGYPT--(Marketwire - Nov 21, 2011) -

OCI Fertilizer Group

Cairo, Egypt / 21 November, 2011 9:00 AM



OCI Fertilizer Group Signs Agreement to Acquire Minorities in
Texas-based Subsidiary



Orascom Construction Industries (OCI) announced today that its
Fertilizer Group has signed an agreement to acquire minorities in its
Texas-based subsidiary Pandora Methanol LLC (Pandora) one week ahead
of scheduled ammonia production. The acquisition takes the Group's
stake to 100%. Pandora has been renamed to OCI North America.



OCI North America is an integrated ammonia-methanol plant located in
Beaumont, Texas, on the Gulf Coast of the United States. The plant has
a production capacity of 250,000 tons of ammonia and 750,000 tons of
methanol per annum. In addition, the plant has an ammonia tank with a
capacity of 18,000 tons and two methanol storage tanks with a capacity
of 22,000 tons each. The plant has pipeline connections to adjacent
customers and port access with dedicated methanol and ammonia import/
export jetties and will ship both products along the Gulf Coast.



The plant is currently undergoing full rehabilitation. Ammonia
production is expected to commence next week and methanol production is
targeted to start in 2012.



About Orascom Construction Industries

OCI is one of Egypt's largest corporations with projects and
investments across Europe, the Middle East, North and South America,
North Africa, and Asia. The company directly employs more than 84,000
people and generated USUSD 4.9 billion in revenues and USUSD 1.1 billion in
EBITDA in 2010. OCI currently has two core business activities. The OCI
Fertilizer Group is a strategic owner and operator of nitrogen
fertilizer plants in Egypt, the Netherlands, the United States, and
Algeria with an international distribution platform spanning Latin
America, the United States, Europe and Africa. These operations will
exceed 7.0 million metric tons of capacity in 2012, positioning OCI
among the top global nitrogen-based fertilizer producers. The OCI
Construction Group is a leading construction contractor active in
emerging markets. It primarily focuses on infrastructure projects in
Europe, the Middle East and Africa in addition to industrial and
high-end commercial projects.

For additional information  
contact:
                            For additional information on OCI:
OCI Investor Relations
Department:                  www.orascomci.com 

Omar Darwazah               OCI stock symbols: OCIC.CA / OCIC EY /
                            OCICqL / ORSD / ORSCY
Email:
 omar.darwazah@orascomci.com  

                            Orascom Construction Industries (OCI)
Erika Wakid                 Nile City Towers - South Tower
Email:                      2005A Corniche El Nil
 erika.wakid@orascomci.com    Cairo, Egypt
Hassan Badrawi
Director


Tel: +202 2461 1036/0727/0917
Fax: +202 2461 9409




                    This information is provided by RNS
          The company news service from the London Stock Exchange

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